September’s Bitcoin market is a bit uncertain.
Since 2013, September has been the worst-performing month for BTC on average, with an average drop of about 3%, and only 5 times out of 13 years have it recorded a monthly gain.
Currently, market expectations put the probability of a 25-basis-point rate hike on September 16 at about 68% (based on real-time data from the CME FedWatchTool), with bets that there could be further hikes within the year. High interest rates typically tighten financial conditions, support the U.S. dollar, and weigh on risk assets like BTC.
This week’s the main downside—let’s see how far it drops. We’ll look again next week to see if there’s any chance of an upswing.
$BTC
Since 2013, September has been the worst-performing month for BTC on average, with an average drop of about 3%, and only 5 times out of 13 years have it recorded a monthly gain.
Currently, market expectations put the probability of a 25-basis-point rate hike on September 16 at about 68% (based on real-time data from the CME FedWatchTool), with bets that there could be further hikes within the year. High interest rates typically tighten financial conditions, support the U.S. dollar, and weigh on risk assets like BTC.
This week’s the main downside—let’s see how far it drops. We’ll look again next week to see if there’s any chance of an upswing.
$BTC