Analysts debate whether Bitcoin is in a "sell in May" bear market pattern.

CoinFeed reported on May 18th, citing Cointelegraph, that analysts are divided on whether Bitcoin will repeat its historic plunge in May. Bitcoin fell from nearly $10,000 to around $7,000 in May 2018 and from around $40,000 to $28,500 in May 2022, both occurring during bear market cycles in US midterm election years. Analyst Merlijn Enkelaar stated that if history repeats itself, Bitcoin could fall to $33,000. Alphractal founder Joao Wedson stated that if Bitcoin remains below $78,000, a new round of capitulation-style declines is possible.