Bitcoin’s Monthly Performance and Key Events in 2024

The recent Bitcoin monthly returns reflect the digital asset’s resilience amidst market volatility. Starting the year on a positive note, January saw a modest +0.87% return, while February’s bullish momentum propelled a significant +44% gain. March’s return was +16.3%, pushing Bitcoin’s year-to-date (YTD) return to +35.1%. However, April brought a decline, with returns dropping by -14.7%.

Several significant events have influenced Bitcoin’s performance, including Tether’s acquisition of 8,889 BTC to bolster its reserves, Bitcoin’s halving, and Asia’s first spot Bitcoin ETFs starting trading in Hong Kong.

In terms of individual crypto performance since reaching their all-time highs (ATHs), Bitcoin (BTC) is currently down by -6.9%, while Ethereum (ETH) is -28.6% from its ATH. Binance Coin (BNB) has seen a -14.4% decline, and other major coins like XRP and Dogecoin (DOGE) are down -82.2% and -73.8%, respectively.

These trends highlight the ongoing volatility and the importance of timing in the cryptocurrency market, underscoring the challenges and opportunities for investors navigating the digital asset landscape.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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