Bitcoin rose strongly this month, breaking through the $66,000 mark on the 27th, reaching a maximum of $66,498, setting a new high since the end of July, and then continued to fluctuate around $66,000. It was trading at US$65,879 at the time of writing, down 0.5% in the past 24 hours and up 11% in the past month.
BTC is poised to break the September Curse
It is worth noting that in the past 11 years (2013 to 2023), Bitcoin has mostly performed poorly in September, with 8 declines and a decline probability of as high as 73%. From the average monthly return, September was also the month with the largest decline, with a decline of 4.78%.
However, there is only a little time left in September, and it seems that this year’s Bitcoin is expected to break the “September Curse” of the past.
Is it bullish to rise above $66,000?
As for Bitcoin after it rises above $66,000, can the rise continue? The blockchain analysis platform Santiment issued an article this morning stating that after the price of Bitcoin rose by 22% in 3 weeks, bullish sentiment has quickly replaced bearish sentiment. Traders expect that Bitcoin will soon reach $70,000.
However, Santiment reminded that if you are expecting Bitcoin to reach a new all-time high, you may have to wait until people lower their expectations. The number of bullish views currently greatly exceeds the number of bearish views, but historically, the market has always moved in line with public expectations. develop in the opposite direction.
Trader announces short position
On the other hand, trader Eugene Ng Ah Sio, who is followed by more than 70,000 people on
In terms of asset selection, Eugene Ng Ah Sio said that he almost accurately targeted every asset that performed well, but made big mistakes in position management. The biggest mistakes in September included SUI, PEPE and ENA, although he appeared in the market pattern The upside potential of these targets has been discovered in the early stages of the change, and these targets have been traded before.
Facing the current market, he is also bearish. Eugene Ng Ah Sio said he has now liquidated most of his positions and is waiting for a leverage wash in the market, which he believes has a high chance of happening.
