BTC could hit short-term bottom in June before rebounding, says analyst

Bitcoin could hit a short-term bottom in June before rebounding, according to an analysis by BIT (formerly Matrixport). The firm noted that while BTC's average June return over the past 10 years is just +0.7% and summer months are typically marked by range-bound trading and corrections, this year may not follow the seasonal pattern. BIT pointed out that May, usually a strong month for Bitcoin, saw below-average gains this year. At the same time, several potential catalysts are on the horizon, including crypto perpetual futures approved by U.S. regulators and the upcoming launch of Nasdaq CME crypto index futures. While seasonal pressures persist, BIT's technical analysis suggests BTC may be approaching a short-term low. The firm concluded that if these new catalysts attract buying pressure, a rebound is quite possible.