Why did BTC price drop today? The following are the main reasons
FOMC and Fed interest rates tomorrow
April comes to an end today and the cryptocurrency market is expected to experience increased volatility amid high-impact news. The US Federal Reserve will make its long-awaited interest rate announcement on Wednesday.â
As a result, some cryptocurrency traders have been quick to enter the stablecoin market. Additionally, over $222 million was liquidated in the crypto leverage market in the last 24 hours.
Binance Co-Founder and Former CEO CZ to be Sentenced Today
Former Binance CEO and co-founder Changpeng Zhao, alias CZ, will be sentenced today after pleading guilty to all charges against him. Its verdict will send shockwaves through the entire cryptocurrency market and mark an era. Furthermore, Binance is currently subject to close monitoring by US financial institutions for the next five years.
Hong Kong BTC and ETH Spot ETFs Off to Slow Start Hong Kong officially began trading on Tuesday after approving Bitcoin and Ethereum spot ETFs earlier this month. However, six spot crypto ETFs in Hong Kong managed only about $11 million on the first day, below expectations of $100 million. It is worth noting that the cumulative trading volume of the Hong Kong spot ETH cryptocurrency on the first day was also significantly lower than that of the US spot BTC ETF, which was approximately $655 million.â
