Bitcoin Braces for September Selling Pressure as FOMC Meeting Looms

Bitcoin has seen over $1.2 billion in net selling over the past ten days, according to popular crypto analyst Maartuun.

Binance's Net Taker Volume showed Bitcoin holding near $78k despite sustained selling pressure.

The $76k level is a key indicator of supply absorption, and as long as it holds, analysts believe that demand may overcome the sellers.

However, September has historically been the most bearish month of the year for Bitcoin, and the upcoming FOMC meeting on the 15th could prove critical to price trends.

The Coinbase Premium Index had briefly turned positive towards the end of August but has since returned to negative territory.