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Bitcoin Traders Brush Off September Blues, Predict Price May ‘Surprise the Bears’
Tyr Capital’s Chief Investment Officer, Ed Hindi, believes that despite Bitcoin’s typical negative performance in September, factors like a U.S. Federal Reserve rate cut and a strong economy could lead to a price surprise. Hindi suggests Bitcoin is more likely to close September above $60,000 than below it, countering the usual bearish narrative.


Here's What Happened in Crypto
A new version of the infamous crypto drainer, AngelX, is wreaking havoc by deploying over 300 malicious decentralized apps (DApps) in just four days. Meanwhile, the U.S. Commodity Futures Trading Commission (CFTC) charged Uniswap with illegal derivatives trading. Bitcoin’s price dipped below $60,000, pulling the global crypto market cap under $2 trillion.


Why Is the Crypto Market Down Today?
The cryptocurrency market saw a sharp decline on September 3, with the total market capitalization dropping by over 1.5% to around $2.03 trillion. This downturn is primarily driven by weak U.S. manufacturing data and a subsequent sell-off in the stock market, raising concerns about how much longer this correction may last.


Bitcoin’s September Slump: Will 2024 Break the Trend?
Bitcoin has traditionally struggled in September, closing the month down 72.73% of the time over the past 11 years. As August ends with a slight decline, the focus shifts to whether 2024's unique dynamics, including the U.S. election and potential Fed rate cuts, might defy historical trends.


Bitcoin Price Set for September Surge? 5 Key Factors to Watch This Week
Bitcoin is battling to hold gains after a 40% recovery in August, with the monthly close and upcoming macroeconomic data setting the stage for possible price volatility. Traders are focused on whether BTC can break its consolidation and aim for new highs.

