Bitcoin falls by 6%; records worst performance since 2022

After recording its worst monthly performance in April since late 2022, Bitcoin fell about 6% on Wednesday as investors withdrew their funds from cryptocurrencies before the Federal Reserve’s announcement regarding interest rates. Earlier it fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70,000.

Bitcoin fell by 5.6% to its lowest since late February. It was last down 4.8% at $57,001, while losses in ether were more modest, down 3.6% at $2,857, also at its weakest since February. With this, the price of bitcoin is now a full 22% below March’s record of $73,803. However, it is still up 35% so far this year and double where it was this time last year.