Bitcoin ended the Monday-through-Sunday week of April 18–24, 2022 below $40,000, extending its run of weekly losses to four. The completed candle was modestly negative, but the sequence mattered: a rebound that had carried bitcoin above $48,000 in late March had failed, and the largest cryptocurrency was again testing the lower half of its 2022 trading range.
The event was a market checkpoint, not a protocol or regulatory action. Because bitcoin trades continuously without a consolidated closing auction, every price in this reconstruction is tied to a named dataset and time convention.
Four negative weeks, measured consistently
StatMuse’s BTC/USD Monday-through-Sunday series records returns of minus 0.79% for March 28–April 3, minus 9.12% for April 4–10, minus 5.89% for April 11–17 and minus 0.63% for April 18–24. Its final week opened at $39,721.20 and closed at $39,469.29. Those four observations establish the streak within that provider’s aggregated daily series.
The reconstruction does not combine those figures with a different venue to manufacture a more precise “official” close. Kraken’s first-party report, calculated from public data distributed through its WebSockets API over the April 24 UTC day, displayed bitcoin at $39,467 with a 0.07% daily return. The roughly $2 difference from the StatMuse close is immaterial to the sub-$40,000 conclusion but illustrates why venue and boundary labels matter.
Contemporaneous reporting on April 24 described the fourth red weekly candle as still pending before the UTC cutoff and noted that BTC/USD had been unable to reclaim $40,000. The completed series confirms the outcome; the event-day report preserves what traders knew before the candle closed.
Quiet trading did not erase the signal
Kraken reported $347.9 million in total spot volume across all markets for April 24, against a 30-day average of $774.7 million. Coinburn calculates that the day’s total was 44.9% of that average, or 55.1% lower. This is a simple comparison of two Kraken figures, not an estimate of global cryptocurrency volume.
Bitcoin accounted for $90.3 million of Kraken spot activity. Ether was shown at $2,922.80, down 0.4% for the UTC day, while total futures notional was $83.0 million. Those venue-specific readings depict a subdued Sunday session rather than a disorderly liquidation. They do not reveal who traded, whether positions were hedges, or how much activity occurred on other exchanges or over the counter.
Why the streak mattered
The importance of April 24 lay in persistence. Each weekly decline used the same calendar convention, so the streak summarized a month of weakening price structure more reliably than a single intraday print. It also placed bitcoin’s behavior inside a broader institutional debate about whether crypto was still diversifying traditional portfolios.
An International Monetary Fund note available before April 24 found that crypto and equity markets had become more interconnected after the start of the pandemic, using daily data through November 2021. That research supplied context for treating bitcoin as increasingly exposed to shifts in risk appetite. It did not analyze the April 24 session and cannot prove that equities, interest-rate expectations or any one macroeconomic factor caused this weekly loss.
What the record does not show
The cited data establish a fourth consecutive negative Monday-through-Sunday BTC/USD week and a sub-$40,000 finish in the selected series. They do not establish a universal bitcoin closing price, a global volume total or a causal explanation. Different exchanges, currency pairs, weekly boundaries and index-construction methods can produce slightly different prices and returns.
No event-day evidence reviewed for this reconstruction supports claims about forced liquidations, institutional flows or on-chain selling on April 24. Those would require separate, timestamped datasets. The defensible conclusion is narrower: bitcoin completed another losing week in relatively light Kraken trading, turning a short pullback into a sustained four-week decline.
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This article provides news and analysis, not investment, legal or tax advice. Digital assets are volatile and may result in total loss.