Bitcoin's Historical Pattern Suggests a Tumultuous May

The Bitcoin price has shown some resilience in recent months, closing in the green for both March and April. However, historical data suggests that May may be a different story for the flagship cryptocurrency.

Market analysts have noted that Bitcoin has never recorded three consecutive positive months during a bear market year. This trend is particularly concerning given the current state of the market, which has been in a sustained downward slope since late last year.

While the price of BTC has risen by nearly 2% in March and 12% in April, on-chain data suggests that this recovery is largely driven by futures markets rather than genuine spot demand. This makes it difficult to predict how the market will perform in May.