The September Effect is a well-documented phenomenon in the stock market, historically associated with negative returns for investors. Bitcoin (BTC) has seen a similar trend, with September being the worst month in terms of profitability. Data from CoinGlass shows that Bitcoin’s average and median monthly returns in September were -4.78% and -5.58%, respectively. Since 2013, Bitcoin has only had three positive Septembers. However, analysts are pessimistic about the short-term developments, but remain optimistic in the medium to long term. Ali Martinez, a Chinese analyst, warned that Bitcoin could enter a prolonged bear market if it fails to break the key $66,000 level.
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