🚀For the first time in eight years, Bitcoin closed September in the green, which is seen as favorable for a bullish sentiment in October, according to Bitfinex analysts.

Historically, 9 out of 13 previous September monthly closes were negative. Analysts point out that the state of the cryptocurrency derivatives market supports the continuation of the upward trend. Specifically, options with a high probability suggest a spike in price volatility, with implied volatility (36.4%) surpassing historical volatility (27.1%).

According to analysts, on-chain indicators are not in contradiction with these findings. Coins held for the last 6-12 months remain "stable," while the supply aged more than three years has been relatively inactive since February 2023, as explained by experts.

"The metrics demonstrate that hodlers are determined to keep within the current price range," the report states. $BTC