"Bitcoin fails to replicate February’s seasonal strength… March outlook also uncertain"

An analysis suggests that Bitcoin (BTC)’s seasonal pattern has not played out this year.

On the 3rd, crypto (virtual asset) analytics firm Matrixport said in a research report, "Historically, Bitcoin has tended to show relatively strong performance in the fourth quarter, but in the previous cycle this seasonal characteristic did not persist," adding that "seasonality is difficult to regard as a definitive signal."

Matrixport noted, "February also typically tends to be relatively strong, but this year it failed to extend that historical pattern."

The report also explained, "March has not historically shown a consistent direction; year-by-year return distributions are relatively dispersed and the magnitude of swings has been larger," and said it is "difficult to have high conviction about the March outlook based on seasonality alone."

It added, "In the absence of clear macro-level catalysts, if seasonal signals are also inconsistent, near-term market moves may be more heavily driven by tactical position adjustments and shifts in liquidity."