Bitcoin (BTC), the world’s most valuable cryptocurrency, fell below $39,000, the midpoint of a three-month price range. Uncertainty among traders is reflected in choppy trading conditions, especially if macroeconomic and geopolitical uncertainties persist.

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Furthermore, as the link between Bitcoin and equities grows, investors will be increasingly sensitive to the impact of rising interest rates on asset values, as was the case in 2014 and 2018. This might keep some purchasers away, implying weaker market returns, especially when contrasted with the enormous monetary and fiscal stimulus of the preceding two years.

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Most alternative cryptocurrencies (altcoins) fell less than bitcoin on Monday, suggesting that the current price drop is just transitory. Altcoins typically underperform in a market sell-off due to their greater risk profile than bitcoin. Despite evidence of decreasing price movement on the charts, technical indicators imply that bitcoin might consolidate around $37,500.

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Bitcoin fear and greed index on Monday, April 25, 2022, went from the extreme fear level of 24 to the level of 23 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.   

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Bitcoin is currently trading at $38,500.93, down 3.20%. In the last 24 hours, the highest it touched was $39,845.92 and the lowest was $38,407.63. Bitcoin has a current market cap of $732,347,523,747. It has a circulating supply of 19,021,556.00 BTC coins and a maximum supply of 21,000,000 coins.

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Grayscale continues to push for a Bitcoin Spot ETF with SEC

Grayscale has renewed a months-long push to persuade the Securities and Exchange Commission to approve converting the crypto investment firm’s $40 billion Bitcoin Trust into an exchange-traded fund (ETF).  ETFs bundle securities like stocks or commodities, and allow investors to buy shares of these bundles without owning the assets directly. There are two main types of Bitcoin ETFs: Bitcoin futures (derivative contracts that speculate on the price of the cryptocurrency), and Bitcoin spots (which operate on Bitcoin’s current price). Grayscale is seeking to create the latter, a Bitcoin spot ETF. It would be the first of its kind: Though the SEC has thus far approved four Bitcoin futures ETFs, it hasn’t approved a single Bitcoin spot ETF.