Bitcoin Breaks Decade-Long Pattern as September Gains Exceed Expectations
Bitcoin's price has surged about 7% in September, putting it on track to break a decade-long pattern where August gains are followed by September losses.
This development comes as Bitcoin is poised to post three consecutive monthly gains from July through September, with its third-quarter advance set to top 40%. This would mark the first positive quarterly return since the third quarter of last year.
Historically, the fourth quarter has been Bitcoin's strongest period, with an average gain of about 77% in the past. However, the current macroeconomic backdrop remains a headwind, with high U.S. 10-year Treasury yields, increased bond-market volatility, and rising international oil prices contributing to inflation concerns.
The next few weeks will also bring potential market-moving events, including Anthropic's initial public offering and the U.S. midterm elections, which could test liquidity and risk appetite in the fourth quarter.