{"id":17341,"date":"2024-09-27T15:17:46","date_gmt":"2024-09-27T12:17:46","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-defies-seasonal-trends-with-a-stellar-september\/"},"modified":"2024-09-27T15:17:46","modified_gmt":"2024-09-27T12:17:46","slug":"bitcoin-defies-seasonal-trends-with-a-stellar-september","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-defies-seasonal-trends-with-a-stellar-september\/","title":{"rendered":"Bitcoin Defies Seasonal Trends with a Stellar September"},"content":{"rendered":"<p>In September, the price of Bitcoin surged by over 10%, contrasting sharply with the typical average decline of 5.9% for this month, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-27\/bitcoin-btc-heads-to-one-of-best-septembers-on-record-on-rate-cuts\">Bloomberg<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1225.webp\" alt=\"1-1225\" class=\"wp-image-242127\"\/><figcaption class=\"wp-element-caption\">Source: Bloomberg.<\/figcaption><\/figure>\n<p>The altcoin index rose by over 20% due to easing financial conditions amid a global wave of interest rate cuts by the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Fed<\/span>, <span data-descr=\"European Central Bank\" class=\"old_tooltip\">ECB<\/span>, and <span data-descr=\"People's Bank of China\" class=\"old_tooltip\">PBOC<\/span>.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/39926\" data-width=\"100%\"><\/script><\/p>\n<p>On September 27, buying interest was concentrated in meme tokens<a href=\"https:\/\/www.coingecko.com\/en\/categories\/meme-token\"> (+17.4%<\/a>).<\/p>\n<p>The Conflux project, often dubbed the &#8220;Chinese Ethereum,&#8221; outperformed the market with a gain of <a href=\"https:\/\/www.coingecko.com\/en\/coins\/conflux\">+13.4%<\/a>.<\/p>\n<p>CEO of HashKey OTC, Li Liang, <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/09\/27\/bitcoin-holds-above-64k-as-china-stimulus-sends-confluxs-cfx-dog-memes-running-high\/\">noted<\/a> the improvement in funding rates as a sign of market recovery.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The growth leaders were the SOL and BTC ecosystems, indicating strong attention to meme coins amid liquidity inflows. Ethereum sector representatives like PEPE and SHIB are also experiencing increased interest,&#8221;<\/em> the expert added.<\/p>\n<\/blockquote>\n<p>Orbit Markets co-founder Caroline Mauron predicted Bitcoin would consolidate near $65,000 due to the expiration of a large number of options on September 27.<\/p>\n<p>Kraken noted that failing to hold above this resistance level could hinder further positive momentum.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Focus on Altcoins<\/strong><\/h2>\n<p>10x Research holds a contrary view. Analysts believe breaking $65,000 <a href=\"https:\/\/cointelegraph.com\/news\/crypto-bull-rally-chances-q4-bitcoin-altcoins-analyst\">increases<\/a> the chances of a rally in the fourth quarter. The event also triggered a <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%91%D0%BE%D1%8F%D0%B7%D0%BD%D1%8C_%D0%BF%D1%80%D0%BE%D0%BF%D1%83%D1%81%D1%82%D0%B8%D1%82%D1%8C_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%BD%D0%BE%D0%B5\">FOMO<\/a> effect in altcoins, they added.<\/p>\n<p>Over the month, the speculation index calculated by Capriole Investments in the sector rose by 13%. This indicator tracks the share of altcoins outperforming Bitcoin over the past 90 days. High values indicate growing bullish sentiment.<\/p>\n<p>Experts highlighted SHIB, with demand coming from retail investors in South Korea.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;In 24 hours, Shiba Inu regained the top spot in trading volume in this country, signaling increased speculation,&#8221;<\/em> they explained.<\/p>\n<\/blockquote>\n<p>10x Research expects the Fed to &#8220;remain open to rate cuts,&#8221; providing high <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%91%D0%B5%D1%82%D0%B0-%D0%BA%D0%BE%D1%8D%D1%84%D1%84%D0%B8%D1%86%D0%B8%D0%B5%D0%BD%D1%82\">beta<\/a> altcoins with additional growth momentum.<\/p>\n<p>Analyst and MN Trading founder Micha\u00ebl van de Poppe echoed his colleagues.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Back on the grind from Monday.<a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a> are waking up significantly, but this is nothing compared to what we&#8217;re going to be seeing in the coming 6 months. <\/p>\n<p>It&#8217;s going to be glorious. It already is.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1839549985396043842?ref_src=twsrc%5Etfw\">September 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Altcoins are &#8216;waking up.&#8217; This is nothing compared to what we will see in the next six months,&#8221;<\/em> the expert predicted.<\/p>\n<\/blockquote>\n<p>GoaSymmetric founder Joe McCann noted that &#8220;prices of 90% of altcoins traded on Binance have crossed above the 50 <span data-descr=\"day moving average\" class=\"old_tooltip\">DMA<\/span>.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">90% of all altcoins on Binance are above their 50-day moving averages.<\/p>\n<p>6% of all altcoins on Binance are above their 200-day moving averages.<\/p>\n<p>Guess what happens next?<\/p>\n<p>\u2014 \u25e2 J\u25cee McCann ? (@joemccann) <a href=\"https:\/\/twitter.com\/joemccann\/status\/1839477890146251008?ref_src=twsrc%5Etfw\">September 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analyst Miles Deutscher predicted that the 25 major altcoins he tracks will soon &#8220;break out of a multi-month downtrend.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Altcoins are about to break out of a multi-month downtrend.<\/p>\n<p>Q4 is set to be an exciting quarter, but if you want to maximise it \u2014 you MUST be holding the right altcoins.<\/p>\n<p>?: A MEGA-THREAD of 25 altcoin charts I&#8217;m focused on for Q4.?<\/p>\n<p>\u2014 Miles Deutscher (@milesdeutscher) <a href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1838862362302185709?ref_src=twsrc%5Etfw\">September 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Q4 promises to be exciting,&#8221;<\/em> he promised.<\/p>\n<\/blockquote>\n<p>Previously, QCP Capital noted the potential for cryptocurrency growth due to stimuli in China.<\/p>\n<p>According to analyst PlanB&#8217;s scenario, Bitcoin could rise to $70,000 in October and reach $150,000 by year-end.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In September, the price of Bitcoin surged by over 10%, contrasting sharply with the typical average decline of 5.9% for this month, according to Bloomberg. Source: Bloomberg. The altcoin index rose by over 20% due to easing financial conditions amid a global wave of interest rate cuts by the Fed, ECB, and PBOC. On September [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1584,20,1146,1145,1150],"class_list":["post-17341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-10x","tag-altcoins","tag-cryptocurrency-market-forecasts","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17341"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17340"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}