According to analysts' analysis, the crypto market is preparing for a September decline.
They predict a decrease in Bitcoin by 12% — the average monthly decline over 14 years.
The price at the mark of $105,000 remains an important support level.
In September, the cryptocurrency market will again experience significant fluctuations, and experts warn of a potential decrease in the price of Bitcoin by up to 12% per month based on 14 years of historical data. This is stated in a CoinDesk article.
Analysts noted that Bitcoin has decreased in September on nine occasions. Meanwhile, some other altcoins showed positive dynamics, particularly Solana (SOL) leading with a 4% increase, XRP rising by 1%, and Cardano (ADA) by 1.5%.
The total market capitalization of cryptocurrency assets has fallen to $3.74 trillion, reaching a three-week minimum. At the time of writing, the figure has recovered to $3.83 trillion, according to CoinMarketCap.
Bitcoin opened the week near the mark of $110,000, which is the weakest level in nearly two months.
According to Anton Krupskiy, an analyst at FxPro, "the overall capitalization chart continues to record a series of lower lows, indicating a downward trend."
From a technical perspective, experts warned of a potential further decrease in the value of Bitcoin to the level of $105,000, which has long been an important support level.
"Bitcoin failed to hold the mark at $112,000 and risks falling to this critical zone," said Krupskiy, adding that "the psychological level of $100,000 is still under threat."
