Data from Coinglass indicates that historically, September has been a challenging month for Bitcoin (BTC) and Ethereum (ETH). Since 2013, Bitcoin has lost over 4% on average and Ethereum has lost 7% this month. This is part of a larger trend that has made August and September difficult for the cryptocurrency sector. In August of this year, Bitcoin fell 9% and Ethereum 22%. When trading opened in September, Bitcoin fell from around $59,500 to $58,000. Velo data shows that the US market open is very bearish on an hourly basis. Additionally, Tuesday is the only day with consistently negative performance for Bitcoin over the past year. These historical trends suggest that September could continue to be a volatile month for cryptocurrencies.
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