Bitcoin narrative continues along with adoption, and a bit of Musk

The collapse of Bitcoin (BTC) has occurred again as its price is now around $ 40,450, down from an inter-week high of $ 43,400. The currency fell 4.8 percent during the week after the US Fed successfully navigated interest rate hikes. Ethereum (ETH), which was near the 000 3000-mark last week, is trading at $ 3,040, down more than 5 percent weekly.

According to the data, the demand for Bitcoin from major investors is declining. Coinbase Pro, a professional trading company on the US exchange Coinbase, reports the outward movement of large chunks of Bitcoin from its books. According to the report, up to 30,000 BTCs were added in one day this week. Similar patterns were registered in March.