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Can Bitcoin Break Its September Slump? Analyzing BTC's Seasonal Trends
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$BTC $DOGE $SOL
Bitcoin (BTC) dropped to around $57,500 on Monday, extending its seven-day decline to over 10%. This fall mirrors a broader market downturn, with major coins like Solana (SOL), BNB, XRP, and ADA down by up to 3%, and Dogecoin (DOGE) leading with a 5% loss.
ETF Outflows and Market Reactions
U.S.-listed Bitcoin ETFs saw $175 million in net outflows last Friday, marking four consecutive days of losses. Ether (ETH) ETFs, despite $173 million in trading volume, saw no net inflows or outflows. The U.S. Labor Day holiday kept traditional markets closed.
September: A Historically Bearish Month
Historically, September is tough for Bitcoin, averaging a 6.56% decline. However, Innokenty Isers, founder of Paybis, suggests that a potential Federal Reserve rate cut this month could boost Bitcoin, countering the usual trend.
Seasonality in Bitcoinâs Price
Bitcoin's price often fluctuates predictably due to seasonality, like the April-May tax season dips and December's bullish "Santa Claus" rally. Despite September's challenges, Isers remains cautiously optimistic, citing macroeconomic factors, potential Bitcoin ETF adoption, and favorable hashrate conditions as reasons for hope this month.
Will Bitcoin Overcome the September Slump?
As Bitcoin faces another difficult September, the market is watching for a potential Fed rate cut that could help it break the usual downward trend.
