September slump until ‘Uptober’? 📅

Can we blame the calendar for the recent red candles?

Author

Ryan Ozawa
September 07, 2024

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With the first week of the month ending with more losses across the crypto market, exasperated traders are finding solace in a cliché—theory, perhaps—inherited from the storied stock market: the “September Effect.” For Bitcoin, this month has historically brought lower average returns than any other.

If expected interest rate cuts from the Fed come through, perhaps next month will be another historically better “Uptober”? For now, the price of Bitcoin is down 7.4% for the week ending Saturday, trading for $54,629 as of writing.

📝 What you need to know

Bitcoin Usually Suffers in September—But 'Uptober' Is Right Around the Corner

Bitcoin's price has been historically weak this month, mirroring Wall Street's "September Effect." But brighter days are on the horizon.

This Week in Coins: Ethereum and Bitcoin Keep Bleeding as Telegram Drama Continues

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💬 Quote of the Day

❝

“We would … expect only the most impatient traders to position for any September Effect, and for most investors to focus on Bitcoin’s improving fundamentals, like upcoming Fed rate cuts and growing institutional adoption.”

—Zach Pandl, Grayscale

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