|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin (BTC) Primed for Best September Ever as Signs of Retail Return Emerge
Sep 27, 2024 at 09:57 pm
Despite being a traditionally bearish period, Bitcoin's (BTC) $66,072.84 current month is about to be its best September ever, while signs of retail returning are starting to emerge.
Bitcoin BTC $66,072.84 is headed for its best September ever, despite the period being traditionally bearish, while signs of retail returning are starting to emerge.
Previously, the highest gain observed in September was a 6% rally back in 2016.
BTC
$66,072.84
Bitcoin monthly returns(%) chart year over year. Source: CoinGlass
Bitcoin has also witnessed gains during each month in Q4, whenever the last month of Q3 has been bullish. 2015, 2016, and 2023 are all prime examples of a potential bullish quarter ahead in 2024.
Multiple Bitcoin metrics flip bullish
In an X post, Cryptquant’s Head of Research Julio Moreno highlighted that the Coinbase premium reached a two-week high on Sept. 26, as prices pushed past the $65,000 range.
Bitcoin: Coinbase Premium index chart. Source: CryptoQuant
The Coinbase premium is often used as an index of US retail investor demand — the higher the value, the more buying pressure. Moreover, the Coinbase premium return currently coincides with an increase in spot Bitcoin ETFs daily inflows.
As reported by Cointelegraph, total aggregated inflows for the 11 spot Bitcoin ETFs were $365.7 million on Sept. 26, as BTC price reached new monthly highs.
This suggests that institutional investors are slowly turning their attention toward Bitcoin once again after favorable interest rate cuts were announced earlier this month.
Meanwhile, the spot cumulative volume delta across all exchanges also reached a new monthly high, with the net buy side of spot volumes dominating the chart.
Bitcoin spot cumulative volume delta. Source: Glassnode
This could be another indication of retail investors coming back, but more evidence is needed to confirm the trend.
Bitcoin forms first “HTF” bull pattern in 5 months
On Sept. 23, Cointelegraph highlighted that Bitcoin was attempting to clear $65,000 to create a new higher high pattern. Three days later, BTC managed to close a daily candle above the previous resistance at a higher time frame, or HTF, which broke a five-month bear trend.
Related: Q4 crypto rally chances ‘exceptionally high,’ fueled by BTC $65K breakout
As illustrated in the chart, the previous higher low (HL) and lower low (LL) pattern was broken after Bitcoin closed a daily candle above the HTF resistance at $65,000. An HTF breakout strongly indicates a potential new long-term trend forming on the chart.
Bitcoin 1-day chart. Source: TradingView
It is important to note that the current HH and HL pattern could still witness a pullback going forward, but that will be considered a bullish trend swing low.
Thus, the key resistance levels to watch are now $68,100 and $71,500, which BTC/USD failed to overcome in the summer.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Rexas Finance (RXS) Might Replace Tron (TRX) as a Strong Contender by 2025, Whales Warn
- Sep 28, 2024 at 02:15 am
- The cryptocurrency scene is developing at an enormous speed, and with that, advances and changes also come from the most unlikely places.
-
- Polkadot (DOT) Price Prediction 2023-2024: Will DOT Hit $10 Soon?
- Sep 28, 2024 at 02:15 am
- Polkadot [DOT] is currently experiencing a steady price rebound, registering consecutive weeks of gains. Over the past two weeks, DOT has risen by 14.2%, and within the past week alone, it has seen an 11% increase.
-
- Bolivia Records 100% Surge in Virtual Asset Trading Volume Months After Lifting Bitcoin Ban
- Sep 28, 2024 at 02:15 am
- Bolivia's central bank, the BCB, said average monthly virtual volumes across digital asset trading had doubled in the period between July and September 2024.
-
- This Guy Turned $1,331 into $3.4M in Only 15 Days, a 2,554x Return!
- Sep 28, 2024 at 02:15 am
- He spent 9.8 $SOL($1,331) to buy 38.7M $MOODENG on Sept 10, now worth more than $3.4M!
-
- October 2024 Promises Substantial Growth Opportunities in the Crypto Market
- Sep 28, 2024 at 02:15 am
- Three altcoins have caught the eye of analysts with their potential for significant returns. From well-known assets climbing to new heights to a surprising AI token set for astounding gains, this article delves into the coins poised to make waves and deliver notable profits.
-
- RCO Finance (RCOF): The Meme Coin Killer With the Potential to Yield 3,500% Returns by 2025
- Sep 28, 2024 at 02:15 am
- Memecoins have always been nomads with their prices, often moving along unpredictably. Dogecoin (DOGE), being the very first memecoin that started as a joke
-
- CYBRO Presale Achieves $2.5 Million Milestone: A One-in-a-million Investment Opportunity
- Sep 28, 2024 at 02:15 am
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2.5 million.
-
- CYBRO Presale Climbs Past $2.5 Million: A One-in-a-Million DeFi Investment Opportunity
- Sep 28, 2024 at 02:15 am
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2.5 million. This cutting-edge DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
-
- Ethereum, Solana, and Cutoshi: The Next Big Cryptocurrency Projects to Watch
- Sep 28, 2024 at 02:15 am
- As the cryptocurrency market evolves, investors constantly look for the next big opportunity in digital assets. Ethereum, Solana, and the emerging Cutoshi are three projects that stand out for their potential to drive significant capital growth in the coming years.