đš Crypto Market Tanks â September Curse Strikes Again
September is living up to its reputation as cryptoâs worst month. After a brutal selloff that erased $162B in market value, the market has slipped into negative territory despite Bitcoin barely holding on.
đ Key Highlights:
Bitcoin (BTC): Clings to ~$109K, up just 1% for the month. A drop below support could flip the whole market red.
Ethereum (ETH): Fell under $4K, triggering $500M in long liquidations and sparking contagion across altcoins.
Market Cap: Down 4.7% today to $3.73T, extending a seven-day slump.
Altcoins: Altcoin Season Index plunged from 77 â 69 as traders rotate into BTC for âsafety.â
Regulatory Pressure: SEC/CFTC roundtable (Sep 29) + Senate crypto tax hearing (Oct 1) add extra event risk.
đ Technical Picture:
BTC holds above $109K but struggles to break $115K.
Indicators (RSI 42, ADX 17) suggest weak momentum and vulnerability to more downside.
Descending triangle pattern points to a possible drop toward $108K.
đȘïž Red September History:
Crypto has posted losses in 8 of the last 11 Septembers. Early-month gains above $4T evaporated as profit-taking and leverage unwinds accelerated the fall.
đ± Looking Ahead:
Prediction markets give 68% odds BTC stays above $105K in September.
âOctoberâ historically brings relief rallies, but charts remain shaky.
đ Question is: Can Bitcoin rescue the market befre September ends, or will the curse prevail?
#Bitcoin #Ethereum #CryptoNews #BinanceSquare #CryptoMarket
