Push and pull? Bitcoin’s monthly cyclicality

Since the beginning of 2021, bitcoin has seen remarkable differences in performance in the first half of the month versus the second half.
Source: Tradingview (Coinbase)

The bitcoin price has behaved in a very interesting pattern over the last year, with more or less all BTC gains since 2021 occurring in the first half of the month, as highlighted in the chart.

The chart illustrates bitcoin’s returns from the date of last months CME future expiry to mid-month* and bitcoin’s returns from mid-month to the next expiry date. Since January 2021, 8 out of 14 months have seen positive mid-month returns, whereas only 3 months saw positive mid-month to end-month returns.

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