Bitcoin has never finished a year positive after a start this bad

Bitcoin seasonality is one of those market narratives that stays alive because the average is easy to screenshot. The problem is that the average often hides the only thing that matters: the state.

A strong “Uptober” inside a healthy bull trend is not the same trade as a strong October after a year that spent the first quarter underwater. A positive December mean is not an edge if the median month is still negat