What are the expectations of the crypto market for September?
September may be influenced by the FED's decision on interest rates in the US and the US presidential election.
In August, crypto market volatility was amplified by macroeconomic and geopolitical events, testing investors' resilience.
The month began with signs of optimism, driven by expectations of interest rate cuts in the United States,
which led Bitcoin to start the month on the rise, reaching its August high of USD 65,659.
However, according to an analysis by Ana de Mattos, Technical Analyst and Associate Trader at Ripio, the scenario changed dramatically on August 5 with the news of a sharp drop in the Nikkei index. The Japanese stock market fell by 12%, its worst since 1987. This triggered a wave of selling, and the global stock market felt the impact; the crypto market was no exception.
The market crash was exacerbated by fears of a conflict in the Middle East and a possible recession in the United States. Bitcoin, the main reference for the crypto market, suffered a sharp drop of 16% in a single day, reaching the monthly low of USD 49 thousand, a difference of 25% from the maximum at the beginning of the month.
