BIT (formerly Matrixport) analyzed that BTC could hit a short-term low this month and rebound. They stated, "Over the past 10 years, BTC's June return was only +0.7%, and during the summer, range-bound movements and correctional trends usually dominated. However, this year may not necessarily follow seasonal patterns. May is typically one of the best months for BTC performance, but this year's gains were lower than the historical average. At the same time, several bullish catalysts are also awaiting. These include US regulatory-approved crypto perpetual futures and the upcoming Nasdaq CME crypto index futures. Although seasonal pressure still exists, from a technical perspective, BTC may be nearing a short-term low. If new catalysts attract buying interest, there is ample potential for a rebound."
