Seasonal trends favor bulls even as BTC price ends April in a defensive mood: Crypto Daily

Bitcoin shows cautious signs as April ends, but historical trends indicate a potential bullish shift in May. Is a rally on the horizon for BTC?

As April wraps up, Bitcoin is displaying a somewhat cautious posture, yet historical seasonal trends suggest a bullish shift could be just around the corner. With the month ending defensively, can we expect a rally as May arrives? Could May Be a Game Changer for Bitcoin? With Bitcoin currently priced at $77,449.61 , it's consolidating below recent highs but may not remain stagnant for long. Analysis of past performance indicates that May tends to favor bullish sentiment for the crypto king. Historical data shows that gains have occurred in seven out of the last 13 years during this month, making it one to watch. The average return for Bitcoin in May hovers around 8% , while this year's April saw a robust increase of approximately 10% . This positive trend sets the stage for potential continued growth into May. What’s Driving the Optimism? The outlook is promising, bolstered by bullish activity in the S&P 500, which is nearing record highs, coupled with significant institutional interest in the cryptocurrency space. U.S.-listed spot exchange-traded funds (ETFs) are attracting robust inflows, having pulled in over $1.8 billion this month, building upon March’s total of $1.32 billion . The feeling in the market is buoyed further by a potential bullish crossover of Bitcoin’s 50-day and 100-day moving averages . This indicator typically signals that momentum is strengthening, hinting at a possible spike in prices if the pattern holds. What Risks Are Lurking on the Horizon? However, the winds of caution are also present. Rising U.S. bond yields—most notably the 30-year Treasury yield hitting 5% —pose a significant challenge for risk assets, including Bitcoin. The ongoing conflict in Iran and subsequent energy price fluctuations further complicate the macroeconomic landscape. As Jake Kennis, a research analyst at Nansen, pointed out, "Bitcoin's failure to sustain above $78K and the subsequent drift back toward $75K suggests the market is digesting the 'higher-for-longer' s