Nic Puckrin, the CEO of Coin Bureau, advises selling your Bitcoins (BTC) in May rather than September based on historical data showing higher returns during May.

The phrase "Sell in May, Go Away" originates from traditional finance and suggests that it is more profitable to sell assets in May and wait until October to buy again due to observed seasonality trends.

Recent reports indicate that in the past five years, purchasing BTC in October and selling in April yielded a cumulative return of 1,449%, significantly higher than buying in May and selling in September, which resulted in a negative return of -29%.

Puckrin backed his claims with data from K33, a cryptocurrency research firm, stating that similar studies have shown the effectiveness of this strategy. He emphasizes that selling assets last month, especially after BTC surged to $73,700 in mid-March, would have led to higher profits.

Changing Market Sentiment

Current on-chain metrics and macroeconomic conditions suggest that selling assets now may be less beneficial, as the sentiment in the market is cooling off with May starting on a negative note.

The Bitcoin Fear and Greed Index indicates a decline in retail sentiment, hovering in neutral territory. Puckrin notes a decrease in Bitcoin search trends and a pervasive pessimism across various platforms.

Institutional interest in crypto products also seems to be waning, with steady outflows observed in the U.S. spot Bitcoin ETF market for the past five trading days. Similarly, newly introduced ETFs in Hong Kong are experiencing lower than expected inflows.

Furthermore, Puckrin highlights significant drops in perpetual funding rates and a decline in open interest in Chicago Mercantile Exchange futures held by non-ETF funds to levels not seen since October 2023.

Despite BTC falling over 22% from its peak, trading at $57,100 at the time of reporting, investors may need to reassess their strategies considering the evolving market conditions.