The crypto market rebounded slightly on Tuesday and showed signs of buying activity returning to the market, in contrast to a weak US stock market today. The global crypto market cap is at $2.04 trillion, pared the earlier 1.50% increase over the last day.
Historically, September has been a bearish month for the crypto as well as for the other asset classes. Currently, the market sentiment points to “fear” among investors, with the Fear & Greed Index dropping to 26 today from 48 (neutral) last week.
Crypto Market Flashes Signs of Bearishness
QCP Capital predicts the downtrend of the crypto market to gradually fade in September itself. This is based on historical data of the strongest bullish seasonality in October. Bitcoin price has recorded positive returns and an average gain of 22.9% in 8 out of 9 times in October month historically.
Despite the September bear sentiment, the seasonality play has led to consistent call buying in the volume market. QCP reveals that the trading
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