Tensions are rising: Will the rally in Bitcoin (BTC) continue?

Bitcoin (BTC), which has fallen below $ 65,000, may soon determine its course.

Bitcoin (BTC), which has been on the rise for the last few days, did not start the week well. The leader of cryptocurrencies, which could not hold on at $ 65,500, created anxiety in the market by falling to $ 64,500. BTC, which drew a negative price structure for the first time after the Fed interest rate decision, divided crypto investors into two. While some investors interpreted this price movement as a correction, others think that the needle has turned in the opposite direction.

According to Coinglass data, the Bitcoin price is traded at $ 65,818 and its market value is around $ 1.3 trillion. If the monthly close for $BTC is around $ 65,800, it will have recorded a performance in the range of 11.5-15 percent in September 2024.

Bitcoin has only experienced a positive trend in September three times since 2013, each of which was considered the beginning of a rally.

BTC price could target a peak by performing better in Q4. If ATH is exceeded, the $80,000 band could be followed as resistance.

Spot ETFs are on the rise in the cryptocurrency market, with spot Bitcoin ETFs witnessing significant inflows last week.

According to Sosolvaue data, Bitcoin saw a net inflow of $494.4 million on Friday alone. Spot Bitcoin ETFs saw a weekly inflow of $1.1 billion, indicating increasing institutional interest. In addition, spot ETH ETFs recorded a weekly net inflow of $85 million.

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