Crypto
Bitcoin May outlook clouded by rate and war variables, risk of short-term range
Bitcoin weakened in late April, but May seasonality and continued inflows into U.S.-listed spot bitcoin ETFs are raising the prospect of further gains. Data since 2013 show bitcoin rose in May in 7 of the past 13 years, with an average return of about 8 percent. Still, higher U.S. Treasury yields and geopolitical risks are weighing on risk assets, and analysts see a higher chance of range-bound trading without a liquidity catalyst.
