Bitcoin closed his third worst week of the year on Friday, with a fall exceeding 5%, which practically annulled the September profits. Historically, this month represents one of the most complicated periods for cryptocurrency.
Bitcoin (BTC) record one 2.6% rise In the last 24 hours and quote above the US $ 112,000according to Binance. While, Ethereum (eth) Try to hold the U $ S4.100with a rise of 3.3%, after last week the crypto market registered strong setbacks.
At the general level, the sector experiences a 2.6%increase, according to the average made by Coingcko. In this sense, most of the Altcoins accompany the recovery, standing out Solana, Cardano and BNBwith increases between 3.6% and 3.9%. Tron is among the few assets that fail to close on positive land.
September, a historically adverse month
Bitcoin closed his third worst week of the year on Friday, with a drop of more than 5%, which practically annulled the September profits. Historically, this month represents one of the most complicated periods for the leading cryptocurrency, which accumulates only 3% rise in the last 30 days, only above February, March and August, which recorded falls.
The bearish feeling intensified among institutional investors, with capital outputs by U $ S903 million of the quoted funds (ETF) from Bitcoin in cash, according to Sosovalue data.
The macroeconomic context presses
The deterioration of US economic perspectives impacted risk assets, including crypts. A weakened labor market and persistent inflation maintain uncertainty, while The American government faces a possible closure if Congress does not approve a new budget before Wednesday.
He PCE index Of personal consumption, known last Friday, it was located in line with market expectations. This indicator, preferred by the Federal Reserve To guide its monetary policy, it suggests that the entity will continue with interest rate cuts, which could favor cryptocurrencies.
Perspectives forward
From BUENBIT They considered that “the recent weakness of September does not invalidate the positive background cycle in Bitcoin. Rather, it represents an episode of adjustment necessary after the advances of the second quarter, With a purification of over -appliance positions and a technical rearrangement towards firmer supports“
And they added that “the foundations – sustained accumulation, increasing liquidity in stablecoins and institutional support – remain aligned with a scenario of appreciation towards the end of the year.” Anyway, they added that “the seasonality of October and the fourth quarter reinforces this thesis, Although the macro factor (fed, dollar, geopolitical conflicts) will continue as a determinant“
Source: Ambito
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