Bitcoin is expected to have a challenging September based on historical data, with negative monthly returns in nine out of the last 13 years. Analysts suggest that investors should focus on mid-October as a significant date to monitor.
Will Clemente, a popular crypto analyst, highlights that September has had the fewest positive-returning months and is on a six-year negative-returning streak. Material Indicators warns of a potential full retracement of gains made after Grayscale’s victory over the SEC.
However, Bloomberg ETF analyst James Seyffart advises investors to look to mid-October, particularly October 16th, as it marks the second decision deadline for the SEC regarding seven pending spot Bitcoin ETFs.
Seyffart also mentions that delays in spot Bitcoin ETF filings were expected, and it would have been surprising if they were approved in the recent round of deadlines. The price of Bitcoin has declined by 4.5% in the past 24 hours, currently trading at $26,066.
Source: Cointelegraph
