TechFlow news — On September 2, QCP Capital's latest analysis of Bitcoin's historical performance in September revealed that over the past seven years, prices declined in six, with an average drop of 4.5%. If this pattern repeats this year, Bitcoin could fall to around $55,000. However, analysts expect $54,000 to act as a strong support level—a level that successfully supported price in July and helped propel Bitcoin toward $70,000.
The report also noted that this week’s jobless claims data (September 5) and non-farm payrolls report (September 6) are unlikely to have a significant impact on cryptocurrency prices, as the influence of recent macroeconomic data on crypto markets has weakened.
Despite short-term market weakness, QCP observes that the options market continues to show bullish signals for the medium term. The volatility curve is expected to steepen further, and more long-dated option positions are being rolled into March next year. Today, 200 additional contracts were added to Bitcoin call options expiring March 28, 2025, with a strike price of $120,000, bringing open interest to 2,100 contracts—indicating sustained investor optimism about the medium-term outlook.
