BTC rebounded with an approximately 11% increase in April, but an analysis suggests a potential bearish reversal in May. According to BeInCrypto, on-chain analytics firm Glassnode analyzed, "BTC encountered major resistance levels, such as the True Market Mean, an indicator that gauges investors' average cost basis, leading to increased downward pressure." Furthermore, analysis suggests that the pattern of significant declines after May highs in past US midterm election years is also a cause for concern.
