CandleFocus Bitcoin Retakes $57K, but Potential Positive Catalysts Are 'Sparse,' Says NYDIG
2024-09-09
Author: Content Editor
Bitcoin is rebounding after a rough start to September, with its price hovering above $57,000. Ether, however, is struggling compared to bitcoin. The gains in the crypto market are accompanied by a rise in US stocks. Despite the recent bounce, bitcoin is still down 3% for September and over 20% since reaching a record high in March. The lack of near-term catalysts for bitcoin is a concern, but historically, October and the fourth quarter have been favorable for price action. Bitcoin bulls may need to look outside of the crypto market for positive catalysts, such as macro news and the upcoming US presidential election.
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