Bitcoin Streaks Towards Breakthrough: Will September's Gain Spark a Historic Run?
Bitcoin is on the cusp of breaking a 13-year pattern where every positive August was followed by a negative September. If it closes September with a gain, it will have ended three consecutive months in the black, July, August, and September. The third quarter's return would also exceed 40%, marking the first positive quarter since 2013.
The current data suggests that Bitcoin is trading at around $84,000, up about 7% in September. This could signal a historically strong fourth quarter, with an average return of about 77% according to CoinGlass data.
However, the final quarter will be influenced by various macroeconomic factors, including rising global bond yields and inflation concerns due to oil staying above $90 a barrel. Additionally, investors may be cautious ahead of Anthropic's potential November IPO and the U.S. midterm elections in that month.