Cryptocurrency analysis firm BIT (formerly Matrixport) analyzed that Bitcoin (BTC) is likely to hit a short-term bottom and rebound this month.

BIT pointed out, "Over the past 10 years, the BTC return rate in June was only +0.7%, with box-range movements and correction trends usually dominating during the summer season." They added, "While May is typically one of the best-performing months for BTC, this year's gains were lower than the historical average."

However, this year's market may not strictly follow traditional seasonal patterns. This is because new bullish catalysts are awaiting the market, such as cryptocurrency perpetual futures approved by U.S. regulatory agencies and the soon-to-be-launched Nasdaq CME cryptocurrency index futures.

BIT forecasted, "While seasonal pressures still exist, from a technical perspective, BTC may have approached a short-term bottom," adding, "If new catalysts draw in buying pressure, a rebound is entirely possible."