Up to April 25,BTCThe $38,000 level was defended by bulls, but they were taken off guard by recent drops. Most bullish wagers about the $1.96 Billion monthly option expiry were lost as Bitcoin plummeted from $46,700 up to $37700 on April 5.

Bitcoin is still under threat from regulatory concerns. On April 26, the New York State Assembly approved a bill. ban on new Proof-of-Work (PoW), cryptocarbon-based miningFacilities in the state. Although mining equipment can be moved, there is no risk to Bitcoin’s safety. However, the threat of anticrypto legislation could have an effect on the price.