{"id":148625,"date":"2023-09-02T14:09:04","date_gmt":"2023-09-02T08:39:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=148625"},"modified":"2023-09-02T14:09:04","modified_gmt":"2023-09-02T08:39:04","slug":"september-blues-for-bitcoin-btc-price-crash-to-20000-coming-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/september-blues-for-bitcoin-btc-price-crash-to-20000-coming-crypto-news\/","title":{"rendered":"September Blues for Bitcoin, BTC Price Crash to $20,000 Coming? – Crypto News"},"content":{"rendered":"

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Historically, September has proved to be the worst period for Bitcoin (BTC), and this time, things look no different.\u00a0The world\u2019s largest cryptocurrency Bitcoin (BTC) has come under strong selling pressure as soon as the U.S. Securities and Exchange Commission (SEC) delayed all seven spot Bitcoin ETF applications<\/a>.<\/p>\n

As of press time, the BTC price is trading at $25,778 with its market staying afloat above $500 billion. Market analysts believe that the Bitcoin price could be making further lows with a lack of a clear catalyst in sight.<\/p>\n

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Popular crypto analyst Micahel Van de Poppe writes that it\u2019s likely that many short positions will accumulate in anticipation of further bearish trends, especially as we witness delays in ETF approvals. This could potentially be the last dip before we resume a bullish upward trend. He added<\/a>:<\/p>\n

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\u201cSeptember is quite often a terrible month for the markets. It\u2019s the worst month in history for Bitcoin and in the previous years, we\u2019ve also been seeing tremendous amount of blood flooding in.\u201d<\/p>\n<\/blockquote>\n

In Bitcoin\u2019s history, the only two instances of a green September were in 2015 and 2016. After that, the BTC price has been losing an average of 5-8% every month. This could mean that the Bitcoin price could drop under its 200-week EMA and is heading towards $23-$24K.<\/p>\n

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The Bitcoin price range of $24,700 to $25,200 is a significant area to watch for potential entry points. If we see a successful test of these lows, it could lead to the formation of substantial bullish divergences. However, if this range is breached, we might be heading for deeper levels, possibly around $23,000 to $23,500, or even as low as $20,000.<\/p>\n

Bitcoin On-Chain Indicators Show Weakness<\/h3>\n

As Bitcoin price continues to see strong selling pressure, on-chain data also confirms that BTC lacks major support at $25,400.<\/p>\n

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#Bitcoin<\/a> | On-chain data suggests that $BTC<\/a> lacks strong support below the $25,400 mark. <\/p>\n

If #BTC<\/a> breaks below this threshold, it could swiftly correct down to $23,340. pic.twitter.com\/j3oMpTIzMt<\/a><\/p>\n

\u2014 Ali (@ali_charts) September 1, 2023<\/a><\/p>\n<\/blockquote>\n

Another stable metric to watch for is the whale stablecoin accumulation. As per Santiment, BTC whales seem to be completely indecisive at this moment. A rise in the Bitcoin whales\u2019 stablecoin wallet size would indicate a bounce back.<\/p>\n

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\ud83d\udc33 Whales are being particularly indecisive on #stablecoin<\/a> accumulation. A tried and true method for predicting where #crypto<\/a> heads next is analyzing big wallets to see the ratio of stablecoins they hold. A rise in their buying power would signal a bounce. https:\/\/t.co\/oeRHFW9b9h<\/a> pic.twitter.com\/itvDgsK6a4<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) September 2, 2023<\/a><\/p>\n<\/blockquote>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Historically, September has proved to be the worst period for Bitcoin (BTC), and this time, things look no different.\u00a0The world\u2019s largest cryptocurrency Bitcoin (BTC) has come under strong selling pressure as soon as the U.S. Securities and Exchange Commission (SEC) delayed all seven spot Bitcoin ETF applications. As of press time, the BTC price is […]<\/p>\n","protected":false},"author":2,"featured_media":94680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-148625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=148625"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148625\/revisions"}],"predecessor-version":[{"id":148627,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148625\/revisions\/148627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/94680"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=148625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=148625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=148625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}