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What’s happening to Bitcoin at the end of this month (Bitcoin September)?

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What\’s happening to Bitcoin at the end of this month? According to data from Co

Whats happening to Bitcoin at the end of this month (Bitcoin September)?

What’s happening to Bitcoin at the end of this month? According to data from CoinMarketCap, the trading volume of BTC spot has increased from about 6 trillion USD to over 1 billion USD in the past 24 hours. At the same time, the trading price of Bitcoin has also risen by over 25%, reaching a high of nearly 48,000 USD. However, large exchanges such as BitMEX and Kraken still seem to lack confidence in BTC.

Despite significant fluctuations in the market in recent weeks, Bitcoin futures open interest remains stable. As of the time of writing, BTC is trading at around 8,280 USD, with a daily increase of 3.68%. In addition, according to data from Glassnode, the total open interest in unsettled Bitcoin futures reached nearly 3 billion USD in Bitcoin options listed on the Chicago Mercantile Exchange (CME) from May 15th to 19th, while the unrealized loss from bullish Bitcoin futures, which has been profitable since mid-January 2018, reached a historical high of 4 billion USD.

All of this is related to the $1.9 trillion stimulus plan passed by the U.S. House of Representatives last Friday, which aims to enable the government to control the financial markets and ensure that monetary policies are not continued. It may also lead to investors turning to other asset classes to avoid risk capital and stocks.

Bitcoin September

According to analysts at Coindesk, Bitcoin experienced a major rebound earlier this month, but due to technical reasons, the price remains unchanged. September is one of the worst months in Bitcoin’s history.

The BTC/USDT trading pair (Beijing Time: September 23, 2021, 0:00 to 10:00) chart shows that the current price trend is similar to mid-August. Last month, BTC rose by over 100%, but then fell below 9,000 USD. Since reaching its all-time high at the end of 2017, BTC has fallen by about 50%; earlier this week, the cryptocurrency surged more than 1,000%. However, it is now approaching a historical high not seen in nearly a year and may take some time to ease its volatility.

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