Bitcoin Surges 8% in September as Traders Anticipate Strong Q4 Performance

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Now, let’s talk about Bitcoin. It’s up 8% this September. Traders and analysts are buzzing about what this means for the fourth quarter. Historically, this quarter has been the best for Bitcoin. Trader Unipcs points out that Bitcoin rises in 8 out of 10 Octobers, especially during election years.

With the U.S. and China cutting rates aggressively, and elections just around the corner, the outlook for Bitcoin looks promising. Unipcs believes that the upcoming distribution of FTX’s $16 billion stimulus will give the market a boost.

Ki Young Ju from CryptoQuant sees Bitcoin in the middle of a bull cycle. He notes that its market cap is growing faster than its realized cap. Back in May, he predicted Bitcoin might peak in April 2025.

Trader Jelle mentioned that Bitcoin is forming a shallow higher low, suggesting a potential breakout soon. He also highlighted the strong historical performance of Bitcoin in the fourth quarter, with average returns around 88% and median returns of 57%.

According to IntoTheBlock, large transaction volume increased by 6.05%. Daily active addresses rose by 4.9%. Meanwhile, net flows to exchanges are down about 70%. Currently, 86% of Bitcoin holders are in profit, with just 5% at breakeven.

In the last 24 hours, Bitcoin's price dropped 3.1%, bringing it down to $63,875. The role of Bitcoin as an institutional asset class will be a key topic at Benzinga’s upcoming Future of Digital Assets event on November 19.

Stay tuned for updates. We’re here to provide you with the insights you need, backed by expert analysis and timely information.