BTC started the week going down, and today it is still going down.
Right now, the value of Bitcoin has gone down by almost 4 percent in the last day and is now at $58,000. Ethereum’s value dropped by 10% when Bitcoin also dropped, and now it’s at $2880.
Bitcoin finished April at $60,600, after dropping for the first time in 7 months.
Right now, the most important level of support seems to be $58,000. Closing below this level for 4 hours or a whole day might make the decline worse.
![](https://cnews24.ru/uploads/10c/10c29de54e86e2779598d14e85b6f438a50de28f.png)
Yesterday, the Binance founder Changpeng Zhao went to court and was given a 4-month jail sentence. This new thing was really liked by the cryptocurrency market.
Once again, the most important thing happening this week is the decision that the Fed will make tonight. The US government will decide if they want to change the amount of money you have to pay when you borrow money. They will tell us at 21:00 Turkiye time.
However, when we check the fear and greed index, which shows how much the market is affected by fear and greed, we can see that it has finally moved to a “Neutral” status with 54 points after a long time.
*This is not investment advice.