Bitcoin is experiencing a challenging September, historically a difficult month for the cryptocurrency, as market dynamics shift with post-summer rebalancing. Currently, Bitcoin is trading about 11% below its recent peak of approximately $124,000, having dipped to around $107,000 over the weekend. Analysts note a top-heavy market, with short-term holders accelerating sales amid mounting losses.
In contrast, Ether has shown resilience, supported by ETF inflows. The potential approval of crypto ETPs by the SEC could further influence market trends. Grayscale's recent ETF filings for Cardano and Polkadot underscore the growing interest in crypto investment products. As the market adjusts, the upcoming 'Uptober' may provide additional insights into future trends.
Bitcoin Struggles in September as Market Rebalances
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