Bitcoin may see first monthly drop in 8 months

According to BlockBeats, on April 30, the price of Bitcoin appears to be closing down about 12% at the end of this month, which will end the digital asset's 7-month continuous upward trend that began in early September 2023. Bitcoin was priced around $70,000 in early April, but is currently hovering above $61,000 as the end of the month approaches. According to Coingecko data, April will be Bitcoin's first monthly decline since August 2023 and the largest monthly decline since June 2022. At that time, the price of Bitcoin was about $31,000 at the beginning of the month, but the closing price fell to $21,000. The recent decline in the cryptocurrency market has resulted in more negative returns relative to positive returns, affecting traders' risk appetite. Aurelie Barthere, chief research analyst at Nansen, said that the market is expected to recover after a period of downturn, and may focus on major tokens. She pointed out that the peak of cross-chain fees is consistent with the trend of crypto prices, reflecting the continued growth of the crypto ecosystem, and Solana and Base have performed well in terms of fee market share.