MEXCBitcoin (BTC) Price To Remain Inactive In September? Here’s What Analysts Say
Bitcoin bulls have failed to gain control of the rally and pushed BTC into the hand of bears. The BTC price continues to dive below the $20,000 level amid the selling pressure and bearish sentiment. In fact, the Bitcoin (BTC) price will most likely enter a period of inactivity in September.
Bitcoin (BTC) Enters Its Historically Bad Month
September has been historically a bad month for Bitcoin since 2017. The BTC price on average had dropped 8.5% in September in the last 5 years. However, crypto analysts believe this year is different as fundamentals and on-chain activity improved amid adoption due to price drop.
Bitcoin (BTC) price dropped below $21,000 due to a market-wide sell-off, as predicted in a previous report. The Bitcoin price is in a long period of inactivity. The Bitcoin network demand is low as the percentage of fees in total block reward is low.
Historically, every time the percentage of fees in the block reward drops below 3%, the BTC is oversold and bearish. As the metric jumps above 3%, the bearish cycle usually ends.
Traders should wait until the percentage of fees in the total block reward jumps over 3%. It will indicate increasing demand in the network, suggesting potential market strength.
The new bull cycle is still far as the network demand is still low. Thus, investors should wait for a bear rally to give a clear bullish signal.
Moreover, the hawkish stance of Fed Chair Jerome Powell and sell-offs by dormant whale accounts show chances of further slip in Bitcoin (BTC) price.
Here’s What Crypto Analysts Say About Bitcoin (BTC) Price
Crypto analyst Michaël van de Poppe thinks the Bitcoin (BTC) price can still go lower at $19.9k. “A sweep of $19.5K is on the cards.” Moreover, he prefers a break of $20.6k at lower timeframes to conclude a bullish continuation.
According to Crypto Birb, the crypto market is weak and stagnant as most cryptocurrencies are below 20-day SMA. Breaking above the 200-WMA at $23k is crucial for Bitcoin.
As per Crypto Tony, “September is historically a bearish month.” There will be fake-outs, volatility, and inactivity.
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Breaking: Michael Saylor’s Strategy Adds 390 BTC to Holdings as Bitcoin Surges Past $115k
- Solana, Cardano, Litecoin, Sui ETFs Delay Wipe Out Institutional Interest: CoinShares
- Is Changpeng “CZ” Zhao Returning To Binance? Probably Not
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
