Fast Take
- Bitcoin has had one other optimistic month, a fourth consecutive inexperienced month, in response to Coinglass information as of April 28.
- The final time this occurred was in 2019, rising from the bear market depths and producing 5 consecutive inexperienced months from February to June.
- Similarities happen between this bear market and 2019, so hopefully see one other inexperienced month.
- Trying ahead to Might; the final two years have been extraordinarily bearish. In Might 2021, we had the China mining ban, and Might 2022 was the beginning of the collapse of Terra Luna.
- In April, we did get one of many worst day by day performances from Bitcoin, registering a -5.225%—the worst day by day efficiency since SVB collapse and FTX collapse.
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