As the overall market continues to move sideways, Bitcoin (BTC) is attempting to reclaim its local range highs as support. After short-term volatility, fueled by the Federal Reserve’s (Fed) rate cut, the cryptocurrency could be poised to close the month on a positive note.
Bitcoin Nears Multi-Month Bullish Run
On Wednesday, Bitcoin retested the $117,000 resistance for the first time in nearly a month before being rejected. The cryptocurrency has been hovering between the $107,000-$116,000 levels since late August, falling to the local lows at the start of September.
Amid the retracement, investors expected to see another “Rektember,” as it has historically been one of BTC’s weakest months. Notably, CoinGlass data shows that BTC’s returns during September have mostly been red throughout the years, with an average negative return of 2.99%.
However, the flagship crypto’s price has had a positive streak over the last two years, recording returns of 3.91% and 7.29%
We współpracy z: https://www.newsbtc.com/news/bitcoin-set-up-for-promising-q4-next-two-weeks-could-be-decisive/
