Is it truly a month of downturn, or is this perception based on anecdotal ?
Until 2018 it's rather a red month indeed but before this year it use to be a green months during several years in a row, so on the overall we can't conclude easily IMO. But if we just look at the 6 last years we can expect a negative month indeed. And since the BTC ETF spot hype has ended along with the halving one, I think people will start to look for other investments or will need(or will just want) to take the profits they've made thnaks to the past bull run. So for me it will be a red month in the end.