With the official start of summer, according to analysts, the world's largest cryptocurrency Bitcoin may experience a sluggish period in June.

Bitcoin showed a 13% increase in May, achieving its eighth consecutive monthly gain in the last nine months and experiencing its best month since it surged 44% in February.
This increase could be attributed to last week's ETH-led rally, which occurred before the SEC approved a rule change allowing Ethereum ETFs in the US. This led to a 20% increase in ETH within two days.
The future holders of ETH ETFs now need to fill out S-1 registration forms for individual funds. According to analysts, there is a triggering deficiency in the cryptocurrency market in June, along with the halving and the approval of Bitcoin Spot ETFs.
Antoni Trenchev said, 'After these new products are fully approved by the SEC, you can expect it to serve as a catalyst for ETH and the broader altcoin space, probably by the end of June.'
Bitcoin has been trading in a narrow range since pulling back from its record in March. Trenchev added, "Bitcoin has hardly moved in the past three months, and it's not necessarily a bad thing that the same things continue because long and boring consolidation periods often precede violent movements. Look at the last halving year in 2020, Bitcoin stayed put for five months before skyrocketing."
According to historical data, June appears to be unstable for Bitcoin, with BTC price having an average return of only 0.25% in June over the past 10 years. Trenchev noted that the return was distorted by two particularly bad years in 2022 and 2013.
Not investment advice
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