BTC PRICE TODAY, NEWS AND LIVE CHART _ FORBES
Bitcoin's performance in September 2024 shows mixed signals for investors and traders. Currently, BTC is hovering around the $58,000 mark, facing strong resistance near $59,500. If it breaks past this point, it could trigger the liquidation of over $800 million in leveraged short positions. However, some analysts expect a potential retest of support levels at $54,000 or even $50,000 before any significant upward movement.
BTC INVESTMENT:WHAT YOU NEED TO KNOW
Historically, Bitcoin has shown weaker performance in September, with average returns of -4.48%. Still, some experts believe a bullish breakout could occur toward the end of the month, driven by historical post-halving patterns and growing global liqu
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idity. A breakout could push the price to as high as $86,000 if conditions
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Meanwhile, the continued inflows into Bitcoin ETFs and increasing institutional interest may serve as additional catalysts for a rally, particularly as liquidity conditions improve.
Investors should remain cautious, as market volatility persists, and closely monitor key resistance and support levels for further insights into potential movements.
As of mid-September 2024, Bitcoin's (BTC) market shows a combination of bullish momentum and short-term volatility, which presents opportunities and risks for investors and traders.
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Bitcoin is trading around $58,000, facing resistance at $59,500. If it breaks this level, it could liquidate up to $800 million in leveraged short positions, potentially boosting the price higher. Analysts suggest that a breakout could be imminent by late September, aligning with historical trends following the Bitcoin halving, which occurred earlier in the year. If this breakout happens, prices could surge towards $86,000.
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On the institutional side, inflows into Bitcoin ETFs have continued, reflecting growing interest from major investors. Notably, Bitcoin ETF holdings increased by $35.9 million in mid-August, adding to the overall positive sentiment.
Institutional investment remains a driving force, supported by the overall rise in global liquidity, which provides a favorable backdrop for further price increases.
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However, September has historically been a weak month for Bitcoin, with average returns of -4.48%. Despite this, many are eyeing October, which has historically performed much better, with average returns of +22.9%, suggesting that a delayed breakout could lead to a strong bull run next month.
For traders, it's essential to monitor Bitcoin's behavior around key support and resistance levels, as any break above or below these could signal the next major move.