Bitcoin's May Forecast: All-Time Highs and Potential Struggles Ahead

Bitcoin has fallen to a two-month low in May due to bearish market sentiment following April's strong gains. The Federal Reserve increased interest rates by 25 basis points, and non-farm payrolls rose to 253,000, versus expectations of 180,000. Bitcoin fell to a low of $25,810 last Friday, but has somewhat rebounded, climbing to a peak of $27,527.51 earlier in today's session. The 14-day relative strength index (RSI) rose above a ceiling at 42.00, and is now tracking at 44.66, with bulls seemingly targeting $28,000 in the near term.