Bitcoin Dips to $57,000 But Market Sentiment Remains Positive
Bitcoin has dropped to $57,000 following significant selling pressure from large investors, compounded by the Federal Reserve's decision to maintain interest rates to curb inflation.
Bitcoin fell to a 24-hour low of $56,600, but has since recovered to $57,300 at the moment, after the FED decided to maintain interest rates to control inflation.
Leading experts predict that Bitcoin’s recent price correction will soon end, giving investors hope amid a market downturn. April has been rough for Bitcoin, marking its biggest monthly drop of the year, with a nearly 20% drop, the first time the price has dipped below $57,000 since late February.
The drop was part of a widespread sell-off in the cryptocurrency market, which reduced total market capitalization by nearly 10% to $2.2 trillion. Amid this difficult backdrop, experts like Michael van de Poppe have suggested that Bitcoin could soon recover, especially if it remains stable within the $56,000 to $58,000 price range.
