Bitcoin and Ethereum have experienced significant declines recently, continuing a trend of bearish performance typical of September. Historically, September has been a challenging month for both cryptocurrencies, with Bitcoin averaging a loss of around 4%, and Ethereum faring even worse, averaging a 7% decline. This follows similar struggles in August, where Bitcoin dropped by 9% and Ethereum by 22%.
Analysts suggest that market volatility could continue due to various factors, including macroeconomic conditions and investor sentiment. However, some believe that Ethereum could outperform Bitcoin in the next bull cycle, despite the current downturn. Both assets remain under pressure as the broader crypto market navigates through these traditionally weaker months.
As of September, Bitcoin was trading around $58,000, with further potential declines anticipated unless a bullish catalyst emerges.
