Bitcoin's price has declined to $109,000 amid a widespread September sell-off, wiping out $1.7 billion in long positions. Institutional investors are pulling back from Bitcoin ETFs, with spot ETFs experiencing a $1.13 billion outflow this week. Despite the current bearish sentiment, analyst CRYPTOBIRB anticipates a potential breakout in Q4, driven by possible Federal Reserve rate cuts, a weakening dollar, and robust institutional demand. Historically, Bitcoin has averaged an 85% gain in Q4 since 2013, suggesting a strong recovery could be on the horizon.
Bitcoin Drops to $109K as September Sell-Off Intensifies
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