CandleFocus These 4 Charts Explain Bitcoin (BTC) Price Performance Amid US Rate Cut Speculation
2024-09-09
Author: Content Editor
Bitcoin and the broader crypto market have historically struggled in September, and this year is no different, with Bitcoin down 7.5% in August and 6.3% so far in September. However, a potential US rate cut could provide a boost to Bitcoin and other risk assets. September is also expected to be highly volatile, with Bitcoin's 30-day historical volatility surging to 70%. Ethereum has also experienced heightened volatility due to specific events. Bitcoin's trade volumes have increased, nearing a record $3 trillion. While a rate cut is typically seen as positive for Bitcoin, concerns remain about how the market might interpret a larger-than-expected cut. Other factors contributing to crypto market fluctuations include the upcoming US elections.
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