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Bitcoin suffers worst month since November 2022, while Ethereum holds steady

Bitcoin's worst-performing month since November 2022 contrasts with Ethereum's relative stability.

James Van Straten
May. 31, 2023 at 7:10 pm UTC
1 min read
Updated: May. 31, 2023 at 7:12 pm UTC

Quick Take

  • Bitcoin is currently 8% down as May closes out, the worst-performing month since November 2022, according to Coinglass data.
  • The largest cryptocurrency is down roughly 6% in the second quarter so far after a strong Q1 where Bitcoin appreciated 72%.
  • Ethereum faired better in May; currently 1% down, and up 1.96% in the ongoing Q2.
  • As the summer seasons start to kick in, this is a pretty good time for Bitcoin, with a lot of the pain historically coming in Q3.
Monthly Returns: (Source: Coinglass)
Monthly Returns: (Source: Coinglass)
Monthly Returns: (Source: Coinglass)
Monthly Returns: (Source: Coinglass)

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In this insight
Bitcoin BTC (24h)
$89,607.73 +1.45%
Vol: $26.48B MCap: $1.79T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

More about Bitcoin
Ethereum ETH (24h)
$3,044.03 +1.73%

Ethereum is an open source smart contract platform and decentralized network that underpins a large share of the global crypto economy.

More about Ethereum