"Sell in May and Go Away?"... Bitcoin Faces Seasonal Adjustment Concerns Ahead of $100,000

Minseung Kang

Summary

Bitcoin has shown a bearish trend in May in the past, raising concerns about such seasonal adjustments.
Jeff Mei, COO of BTSE, pointed out that although Bitcoin has recently been on the rise, the low GDP growth rate in the U.S. could trigger short-term adjustments.
The possibility of a bearish market for Bitcoin in May depends on the weakening of technical indicators and wavering investor sentiment.

Bitcoin (BTC) is facing potential seasonal decline concerns ahead of May, despite expectations of recovering to $100,000.

On the 2nd, cryptocurrency-focused media CoinDesk reported that the traditional financial market adage 'Sell in May and go away' could also affect Bitcoin.

In fact, according to cryptocurrency market data analysis firm CoinGlass, Bitcoin has shown a bearish trend in May over the past five years. It fell by 35% and 15% in 2021 and 2022, respectively, remained flat in 2023, and only rose by 11% in 2024.

Jeff Mei, COO of BTSE, pointed out that "Bitcoin recently surpassed $97,000, but momentum may slow after the first quarter's bullish trend," adding that "the low GDP growth rate in the U.S. is also a factor increasing the possibility of short-term adjustments."

Vugar Usi Zade, COO of Bitget, explained, "Looking at past data, Bitcoin records the highest returns in the fourth quarter, while in the third quarter (July-September), the average return is 6%, showing repeated adjustment trends."

The media added, "If Bitcoin's technical indicators weaken or investor sentiment wavers, the possibility of a bearish market in May cannot be ruled out."

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