Seasonal trends favor bulls even as BTC price ends April in a defensive mood: Crypto Daily

Bitcoin (BTC) is currently in a defensive position as April concludes, but historical seasonal trends indicate that any price pullbacks may be temporary, potentially leading to an upward movement in the coming weeks. Data since 2013 shows May is typically a bullish month for Bitcoin, with gains occurring in seven of the last thirteen years, averaging around 8%. This positive seasonal bias, following April's approximately 10% gain, suggests the broader uptrend could persist. The bullish outlook is further supported by similar seasonal strength in the S&P 500 and strong institutional demand evidenced by over $1.8 billion in net inflows into U.S.-listed spot Bitcoin ETFs this month. However, rising bond yields are a headwind for risk assets, and some analysts note Bitcoin's inability to sustain levels above $78K suggests a range-bound market. Additionally, global economic risks, such as potential disruptions from the Iran conflict and energy market impacts, could negatively affect the global economy in May. Technical indicators like an impending bullish crossover on BTC's key averages suggest potential upside, though its reliability, especially in bear markets, is noted.

(Source：CoinDesk)