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June has historically been one of Bitcoin’s weakest months
The average June return for #BTC is -0.44%, with 5 of the last 8 Junes closing in the red.
Only September has a worse historical record, averaging -3.08%.
This month isn't off to a great start either.
Bitcoin has already fallen more than 5% in the first two days of June, breaking below the psychological $69k level. The selloff accelerated after Strategy officially sold BTC — a notable move from a company whose chairman, Michael Saylor, once said that it would be better to sell a kidney than sell Bitcoin.
The amount sold was small, but the timing couldn't be worse for a market already struggling to find support.