The historical return is meaningless and taken out of context. April has always gotten its gains because March was terrible and April was just a recovery... or a dead bounce... or the market was just boring and flat and slowly up before a mega-rally.

Taken in context at a record-breaking all time high (too early) in combination with a bearish halving event that people have been stacking and waiting to dump on for two years... yeah the signals are pretty clear.

It's also been quite clear how easy the new ETF participants will panic and immediately dump at the first sign of trouble. We were told these were "forever holders". They aren't. They're noobies just like everyone else. The psychology is exactly the same across the board.