Analysis: Beware of the seasonal risks of "selling, leaving and watching in May", Bitcoin may face pressure to pull back

PANews May 2 news, according to CoinDesk, although Bitcoin's recent breakthrough of $97,000 has caused the market to have high expectations for its impact of $100,000, analysts warn that the "Sell in May and go away" seasonal patterns in traditional financial markets may put pressure on the crypto market. Jeff Mei, chief operating officer of BTSE, said historical data showed that financial markets performed relatively weakly from May to October, and many investors followed the "May Sell" strategy. CoinGlass data shows that Bitcoin fell 35% in May 2021, fell 15% in May 2022, and performed smoothly in May 2023.

Vugar Usi Zade, chief operating officer of Bitget, pointed out that the average return of Bitcoin in the second quarter (April to June) in the past 12 years was 26%, but the median was only 7.5%. The average return in the third quarter (July to September) fell to 6%, with a slightly negative median, showing a seasonal weak trend. Analysts advise investors to remain cautious in the current situation of high market sentiment, especially when technical indicators show signs of weakness.