Bitcoin price on track for first monthly loss since August

Apr 30, 202415:40 GMT+5

Bitcoin seems to be heading towards its first monthly loss, potentially ending a seven-month streak where it closed each month at a higher value than it started — a trend that has persisted since August.

The largest digital asset by market capitalization commenced April with a price hovering around $70,000. However, as the month draws to a close, bitcoin is presently hovering just above the $61,000 mark — indicating a monthly decline of over 12%.

According to Coingecko data, bitcoin's monthly chart candles show April as the asset's first monthly loss since August 2023. Expanding on the data, April's downturn represents the largest monthly fall since June 2022, when bitcoin opened the month priced around $31,000 but closed lower at $21,000.