Bitcoin surged 25% in August. At the beginning of September, the overall trend is still slightly bullish, but this morning the price dipped a little due to some international conflicts and the broader macro environment. Don’t panic, though—this is just a normal “rest stop at high levels,” and there hasn’t been any panic-driven large-scale selloff.
Bitcoin is currently trading around $76,400 to $79,200, down about 1% to 2.3% from yesterday. Ethereum also slipped a bit, roughly between $2,400 and $2,480. Other coins such as Solana, BNB, and so on are also down slightly—about 1% to 3%. The current market sentiment index is between 69 and 75.
Why is it falling today?
Mainly for two reasons. First, things are a bit tense internationally: the U.S. has taken military actions toward Iran, causing oil prices to spike. People are worried about inflation, so they’re less willing to touch assets like Bitcoin that don’t generate interest. Second, interest rates are too high. The U.S. 10-year Treasury yield has risen to 4.79%, and many believe there’s a high probability of the Fed hiking rates again in September. In a high-interest environment, Bitcoin doesn’t look as attractive. That said, it’s still good news that money is continuing to flow into the spot ETFs, which suggests big institutions are still paying attention.
If Bitcoin keeps falling, $76,400 and $75,000 are two key support levels. As long as it doesn’t break below $75,000, things should be okay. If it moves upward, it needs to first break through the resistance zone of $77,600 to $79,000. If it can hold above $80,000, there may be room for further big gains. Right now, it’s likely to range between $74,000 and $82,800. Overall, the trend is still slightly bullish, which makes it suitable for buying on dips.
If the broader market can hold the $75,000+ floor, there’s hope of pushing back toward $80,000. But if it breaks below that floor, it may dip further. September is likely to be a choppy back-and-forth market. Everyone can pay extra attention to the U.S. nonfarm payrolls data on September 5. In short, this is a “orderly pullback,” not a breakdown. For short-term trading, focus on risk control; the logic for buying on dips in the medium term still holds.
The crypto market’s up-and-down swings are even more exciting than a roller coaster. International developments and Fed policy can change the market’s face at any time. What I shared above is only meant to help everyone make sense of the current market—it’s absolutely not investment advice telling you to rush in with your eyes closed. Everyone should act according to the thickness of their own wallet. Don’t get carried away! $BTC
Bitcoin is currently trading around $76,400 to $79,200, down about 1% to 2.3% from yesterday. Ethereum also slipped a bit, roughly between $2,400 and $2,480. Other coins such as Solana, BNB, and so on are also down slightly—about 1% to 3%. The current market sentiment index is between 69 and 75.
Why is it falling today?
Mainly for two reasons. First, things are a bit tense internationally: the U.S. has taken military actions toward Iran, causing oil prices to spike. People are worried about inflation, so they’re less willing to touch assets like Bitcoin that don’t generate interest. Second, interest rates are too high. The U.S. 10-year Treasury yield has risen to 4.79%, and many believe there’s a high probability of the Fed hiking rates again in September. In a high-interest environment, Bitcoin doesn’t look as attractive. That said, it’s still good news that money is continuing to flow into the spot ETFs, which suggests big institutions are still paying attention.
If Bitcoin keeps falling, $76,400 and $75,000 are two key support levels. As long as it doesn’t break below $75,000, things should be okay. If it moves upward, it needs to first break through the resistance zone of $77,600 to $79,000. If it can hold above $80,000, there may be room for further big gains. Right now, it’s likely to range between $74,000 and $82,800. Overall, the trend is still slightly bullish, which makes it suitable for buying on dips.
If the broader market can hold the $75,000+ floor, there’s hope of pushing back toward $80,000. But if it breaks below that floor, it may dip further. September is likely to be a choppy back-and-forth market. Everyone can pay extra attention to the U.S. nonfarm payrolls data on September 5. In short, this is a “orderly pullback,” not a breakdown. For short-term trading, focus on risk control; the logic for buying on dips in the medium term still holds.
The crypto market’s up-and-down swings are even more exciting than a roller coaster. International developments and Fed policy can change the market’s face at any time. What I shared above is only meant to help everyone make sense of the current market—it’s absolutely not investment advice telling you to rush in with your eyes closed. Everyone should act according to the thickness of their own wallet. Don’t get carried away! $BTC
