According to BlockBeats, on August 26, CoinGlass data shows that September has historically been one of the worst months for Bitcoin and Ethereum. Based on historical performance from 2017 to 2024:
In most years, Bitcoin (BTC) has recorded a decline in September, with only 2023 (+3.91%) and 2024 (+7.29%) showing an increase.
The decline in Ethereum (ETH) in September is even more pronounced, for example, in 2017 (–21.65%), 2020 (–17.08%), and 2022 (–14.49%), all significantly underperforming BTC.
Only in 2019 (ETH +5.72% vs BTC –13.38%), 2023, and 2024 has ETH outperformed BTC.
This pattern has been reflected in every bull market cycle. In 2013, 2017, and 2021, after a summer rebound, Bitcoin experienced a noticeable correction in September.
From the market perspective, on August 26, Bitcoin tested the key support level of $109,000 at the lowest point during the early hours, but did not see a significant rebound. The daily chart has formed a fairly clear 'Three Black Crows' bearish pattern, and the short-term trend remains weak. It is expected to continue testing the $107,000–$108,000 area. If the market does not show a significant rebound or a 'golden needle bottoming' pattern, the conditions for going long in the short term are still insufficient, and bearish risks need to be monitored.
Against this backdrop, market volatility has increased, and investors need to enhance their risk management. BiyaPay's multi-asset trading wallet will continue to provide you with one-stop services for global remittances, digital currency trading, and investments in US and Hong Kong stocks, helping you to flexibly allocate funds and seize investment opportunities amid turbulent market conditions.
