TechFlow news, September 2 — Bitcoin price dropped to around $57,500, posting a weekly decline of over 10%, according to Coindesk. This movement aligns with the broader downturn in the cryptocurrency market and also fits the historical pattern of Bitcoin typically underperforming during the month of September.
Innokenty Isers, founder of cryptocurrency exchange Paybis, noted that historical data shows Bitcoin has averaged a depreciation rate of 6.56% in September. However, he added that if the Federal Reserve cuts interest rates in September, it could reverse this negative trend, as rate cuts often lead to excessive dollar liquidity, thereby strengthening Bitcoin's position as a store of value.
Although September is generally seen as a weak month for Bitcoin, Isers believes this year may see relatively stronger performance, considering macroeconomic indicators, adoption of spot Bitcoin ETFs, and favorable hash rate dynamics.
