Although Bitcoin experienced a tremendous rise from January to April, it has been on a downward trend since mid-April.
Recently, BTC has risen above $ 28,000, causing investors to hope for a bit, while Bitcoin started the day with a sharp decline when the monthly closing will take place.
Some analysts stated that this decline was caused by investors liquidating their assets as a result of BTC closing a month lower for the first time in 2023, that is, closing with a red candle, and the hawk statements of Cleveland FED Chairman Loretta Mester.
Evaluating Bitcoin’s performance after this decline, Ava Labs Inc. President John Wu spoke to Bloomberg. He stated that the US banking crisis resulted in his distrust of fiat currency and that investors turned to BTC and cryptocurrencies, which brought a rise to Bitcoin.
On the other hand, Caroline Mauron, co-founder of OrBit Markets, also evaluated the impact of the temporary agreement and negotiations on the debt limit in the USA on BTC.
Caroline Mauron told Bloomberg that investors are currently assessing the consequences of the US debt limit agreement, which should be concluded before June 5, when the US is already at risk of default.