BTC rebounded with an approximately 11% rise in April, but an analysis suggests a potential bearish reversal in May. According to BeInCrypto, on-chain analytics firm Glassnode analyzed, "BTC encountered major resistance levels, such as the True Market Mean, an indicator that gauges investors' average cost basis, leading to increased downward pressure." Furthermore, analysis suggests that the historical pattern of significant declines after a May peak during US midterm election years is also a cause for concern.
