Traders are expressing concerns regarding Bitcoin’s performance as September unfolds, an historically tough month for the cryptocurrency.

• Bitcoin has decreased in value during nine of the last fourteen Septembers.
• The overall cryptocurrency market capitalization has fallen to $3.74 trillion, a three-week low, with Bitcoin’s price hovering near $110,000.
• Traders are wary due to macroeconomic uncertainties and decreasing trading volumes, suggesting a possible drop in Bitcoin prices.

Bitcoin
warning (CoinDesk Archives)

This month’s seasonality raises alarms, as Bitcoin is noted to have opened the month at around $110,000, marking its lowest point in two months. This trend is compounded by a decline in the total crypto market capitalization.

Bitcoin’s previous September performances have shown an average monthly loss of approximately 12%. As traders navigate these waters, there is growing fear that Bitcoin could reverse downward if sustained support levels collapse before a macroeconomic recovery is seen.