๐จ Bitcoin Traders Absorb Dips, but โGhost Monthโ Could Extend Woes ๐จ
๐ Market Snapshot:
Bitcoin ($BTC ) has been under pressure, hovering around $117K, after facing notable dips this week. Traders are absorbing losses, but seasonal factors could prolong market challenges.
๐ป Why โGhost Monthโ Matters:
In Asia, the โGhost Monthโ (Aug 23 โ Sept 21 this year) traditionally sees reduced trading activity. Investors tend to avoid risky moves during this period, creating a temporary market slowdown. Historically, Bitcoin has dropped 21.7% on average during this time, with steep declines in 2017 (-39.8%) and 2021 (-23%).
๐น Signs of Strength:
US spot demand is rising, signaling confidence among American traders.
Korean market premiums (Kimchi Premium) remain positive, showing buying interest.
Stablecoin inflows via $USDC (~$3.88B) indicate capital is ready for deployment.
Short-term holders (STHs) are not rushing to sell, reducing immediate selling pressure.
โ ๏ธ Market Implications:
Despite absorbing dips, Bitcoin could face further downside, potentially testing $110Kโ$115K if seasonal patterns repeat. Traders should stay cautious but watch for opportunistic buying signals.
๐ก Audience Takeaway:
Traders: Consider risk management and avoid panic selling.
Investors: Seasonal patterns can create buying opportunities.
Crypto enthusiasts: Monitor US and Korean market inflows for short-term trends.
๐ Summary:
This news is neutral-to-cautiously negativeโdips are being absorbed, but seasonal weakness could extend volatility. Smart traders can leverage this period for strategic entry points.
