Bitcoin Rallies 8% in September, Sets Sights on All-Time Highs
Bitcoin's price has surged by 8% in September, reaching its highest level since January. The cryptocurrency closed the month at $83,621 and is now just 2% away from entering positive territory for the year.
The market's optimism is fueled by the start of the fourth quarter, which historically sees nearly 70% of October months be bullish for Bitcoin.
The sustained inflow of institutional capital has been a key support factor, with spot bitcoin ETFs in the United States capturing $3.155 billion in net inflows during September.
Javier Molina from eToro sees a constructive dynamic accompanied by phases of consolidation and correction, while Ignacio Santos from Fazil Crypto points to a possible transition towards an accumulation and growth phase by the end of the year.