On the first day of this week, Bitcoin fell to its lowest level in the last six weeks. Ethereum also dropped to its lowest level since mid-March, hitting the 2,800 level. With this decline, Bitcoin has exited the important 2-month uptrend. This decline may cause a retest of the 35,200 level seen in January.
FED's Upcoming May Meeting
The Fed's meeting in May is expected to raise interest rates by 50 basis points. Those who believe in the long-term potential of Bitcoin continue to accumulate BTC at these prices.