TechFlow reported on September 9 that Bitcoin has performed poorly in September, dropping about 7%, but saw a slight rebound over the weekend. According to Sean McNulty, Head of Trading at Arbelos Markets, this recovery was partly driven by well-known KOLs closing their short positions, including Arthur Hayes, co-founder of BitMEX. Additionally, improved polling numbers for Republican presidential candidate Trump, who supports cryptocurrencies, have also contributed to the momentum.
Bloomberg data shows that within an eight-day period ending September 6, investors withdrew nearly $1.2 billion from 12 spot Bitcoin ETFs. Caroline Mauron, co-founder of Orbit Markets, expects Bitcoin to remain range-bound between $53,000 and $57,000 ahead of the release of the latest U.S. CPI data.
