Seven-Month Series Ends in Bitcoin (BTC)

Leading cryptocurrency Bitcoin (BTC) is about to break the positive monthly closing streak it has maintained since September. If BTC closes below $71,280, the seven-month streak will end.

The cryptocurrency market went through a very turbulent period in April. BTC weakened due to the impact of negative news flows and data that would trigger the decline. Spot Bitcoin ETF data, which has been on the agenda especially in the last two weeks, has become the main reason for the blood loss in BTC.

#BTC left a bearish month behind as Israel-Iran tensions and net money outflow in spot Bitcoin ETFs dominated. At the monthly close tonight, BTC's seven-month positive monthly closing streak will end.

The leading cryptocurrency #Bitcoin (BTC) is about to close April at $63,000, after starting at $71,280. The pioneer of cryptocurrencies will end a seven-month positive streak if it makes a current monthly close.

BTC started to rise in September 2023, when the story that spot Bitcoin ETFs would be listed in the USA came to the fore. On this date, BTC rose from $25,940 to $27,483. As the news flow was dominated by spot #ETFs and the cryptocurrency industry turned this story into a bullish one, a parabolic rise occurred in BTC.

#BTC has had positive closes for seven consecutive months since September. As the selling pressure increased in April, BTC's seven-month series came close to ending. If BTC does not rise 16 percent by tonight, the monthly closing will be red (negative).

The end of the series revealed rumors that the trend had also returned. Expert names in the crypto industry suggested that #BTC may also have a downward trend in May. According to the scenario, BTC will have closed in the red for two consecutive months and will start June with the correction completed.