Bitcoin won’t stop: Will it peak before September ends?

Bitcoin has gained 22 percent in the last three weeks as demand from US investors continues to grow, pushing prices above pre-crash levels in August. The previous high was a 6 percent rally in September in 2016. Bitcoin gained in the last month of Q3, while it gained every month in Q4. The years 2015, 2016 and 2023 are the best examples of a possible quarter in 2024.

Cryptquant Research Head Julio Moreno emphasized in his article in X that the Coinbase premium reached a two-week peak on September 26, with prices exceeding the $65,000 range.

The Coinbase premium is often used as an index of US retail investor demand — the higher the value, the greater the buying pressure. Moreover, Coinbase’s premium yield is currently coinciding with the increase in daily inflows from spot Bitcoin ETFs.

As Cointelegraph reported, on September 26, total inflows across 11 spot Bitcoin ETFs rose to $365.7 million as the $BTC price reached new monthly highs. The development suggests that institutional investors are slowly returning to Bitcoin after the announcement of favorable interest rate cuts earlier this month.

In addition, the spot cumulative volume delta across all exchanges also reached a new monthly high, with the net buy side of spot volumes dominating the chart. This could be another indication that retail investors are returning, but more evidence is needed to confirm this trend.

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