Red September? Crypto starts cautiously as Bitcoin, Ethereum, and XRP show mixed signals
16:15 ▪ 7 min read
Inform yourself
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Bitcoin (BTC)
September has long had the reputation of being a tough month for cryptocurrencies. Historical performance shows that Bitcoin has averaged a 3.77% decline each September since 2013, a trend that has earned the month the label of 'Red September'. Despite this history, the crypto market began the new month with a modestly positive tone after a quiet weekend.
In summary
Crypto sentiment is neutral at 49 on the Fear and Greed Index, cooling off from August highs.
Bitcoin has risen more than 2% in 24 hours and is trading around $110,000; the momentum is weak.
Ethereum shows a neutral trend; whales bought 260,000 ETH, Myriad predicts $5,000.
XRP is trading near $2.81; Myriad assigns a 78% probability of falling to $2.50 first.
Crypto sentiment decreases as September begins
Sentiment indicators reflect this caution. According to the Crypto Fear and Greed Index, market sentiment is at 49, considered neutral. This is slightly up from 46 yesterday, which indicated fear, but marks a strong retreat since mid-August when the index reached 75. The shift suggests a cooling environment as traders enter a month often associated with weaker performance.
Adding to the uncertainty is the broader economic context. The Federal Reserve's policy meeting on September 16-17 is expected to be a significant event. Currently, market expectations assign an 87% probability to a 0.25% interest rate cut.
$BTC $ETH $XRP #Septiembrerojo