SELL IN MAY & GO AWAY

Summary from the TLDR Crypto newsletter

Seasonality has a statistically significant impact on returns in both traditional and crypto markets. Over the past five years, buying BTC in October and selling in April netted 1,449%, while buying in May and selling in September led to -29%. Retail and institutional sentiment is waning this May, as evidenced by trading volume, volatility, and ETF outflows. Macroeconomic conditions are also driving liquidity away from all markets, which the Treasury could solve by injecting up to $1.4 trillion of liquidity into risk assets.