- September is notorious for being a tough month for the cryptocurrency market.
- This September could be a good month for the markets.
- Last month felt irrational, with people calling new lows to come soon.
September is known for being a bad month for the cryptocurrency markets. According to reports, this year, September has been a prospective month for the markets. The total market capitalization of all cryptocurrencies has increased significantly in the previous month and this month at large, while the price of Bitcoin (BTC) has surged by more than 1% in the last 24 hours.
According to data from CoinMarketCap, the total crypto market volume over the last 24 hours is $60.47B, which is a noteworthy improvement from last year’s total. The total volume in DeFi is currently $5.48B, or 9.05% of the total crypto market’s 24-hour volume. The volume of all stable-coins is now $55.18B, which is 91.25% of the total crypto market’s 24-hour volume.
This data shows that the cryptocurrency markets are maturing and becoming more resilient to external factors. One of the key drivers behind this positive trend is the growing institutional interest in the space.
A German trader mentions that the last few months felt irrational with people calling for new lows to come soon, but today he woke up to the news and was scared to even look at the crypto chart. The first thing he saw was his German stock market bleeding heavily again. He reports that he was ready to see a -5% BTC and a -10% on Alts but nothing close to that really happened.
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The macroeconomic case leaves nothing to be truly bullish about. In the current context, a reply to the trader mentions that “bullish” to them means just not dumping and generally maintaining levels within 10% or so of where they are now.
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