June’s Bitcoin Performance: Analyzing Seasonal Trends and Market Volatility

According to the latest report from Matrixport dated June 2nd, historical trends indicate that June typically yields a flat performance for Bitcoin, characterized by heightened volatility. The analysis reveals an average return of merely 1.9%, with the potential for a 50% upward movement. In stark contrast, October emerges as the month with significant bullish momentum in Bitcoin’s seasonal performance. The data from the previous year indicates a concerning trend, as Bitcoin experienced a 7.1% decline in June, which was slightly offset by a 3.1% uptick in July, followed by an 8.7% drop in August. Given the current lack of seasonal momentum, Matrixport has adopted a more cautious trading stance recently, aligning with both prevailing market conditions and performance metrics.