Bitcoin (BTC)’s strong start from January to May is faltering

but Bitcoin January began with a 21-month high above $45,000, but the month has historically not produced positive returns. Data from TradingView shows that in the past five years, there have only been two biggest January cryptocurrency gains. Bitcoin rose 40% in January but was down 16% in the previous year. On Wednesday, it was trading at around $42,000, down 8% in 24 hours. Nevertheless, according to LMAX Digital, there is room for Bitcoin to rebound if a spot Bitcoin exchange-traded fund (ETF) is approved in the United States. “Given how much of the balance remains as the event is priced, it is clear that some funds are being held back awaiting confirmation of actuality,” the morning note said. “We expect the rally in the immediate aftermath could move the stock by around 10% over a day or two.”