Bitcoin Faces 15% Drop from All-Time High Amid September Volatility
Bitcoin's price has dropped over 15% from its all-time high of $124,457 in the last two weeks. September is historically a challenging month for Bitcoin.
The Bullish Stand for Bitcoin Price
- Bitcoin's relative strength index (RSI) indicates potential upward momentum.
- Analyst Javon Marks suggests a similar pattern from August 2024 led to a 110% rally.
- Analyst Crypto Patel reports a rise in 30-day volatility from 3% to 9%, signaling possible bullish conditions.
- Key volatility benchmarks: over 15–20% indicates strengthening market momentum; over 25–30% signals full expansion.
Considering the Bear Case Scenario
- Bitcoin recently bounced from lows under $107,500 but may test the $100,000–$103,000 range, according to Michael van de Poppe.
- Poppe anticipates new lows this month before a potential recovery in Q4.
- Crypto Patel states Bitcoin remains bearish below $113,400, with $100,000 as an immediate target and $90,000 as the next support level if it breaks below $100,000.
BTC to Altcoins Capital Rotation
CrediBULL Crypto notes that following Bitcoin price peaks, capital is rotating into altcoins, particularly ETH, indicating the onset of an altcoin season.
TOKEN6900 Raises More than $3.2 Million
- TOKEN6900 project has raised over $3.23 million during its presale.
- Current presale price is $0.007125 with a projected APY of 33% for early investors.