The Hunt for Red September ⚓

Just when it looked like Bitcoin might escape the seasonal curse, the prospect of a Red September has hove into view again.

Author

Stephen Graves
September 23, 2025

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📝 What you need to know

The crypto market’s recent downturn has raised the spectre of “Red September,” with Bitcoin’s dip below $113,000 placing it just a few percent off painting a red monthly candle, during what’s historically the worst month of the year.

With technical indicators showing weakening momentum, Bitcoin could have more room to fall—and options traders appear to think the same, with experts telling Decrypt that an uptick in put-buying activity signals “fears of continued downward price action.” Elsewhere, $363 million exited U.S. spot Bitcoin ETFs Monday, part of a $439 million exodus from crypto ETFs.

Users of prediction market Myriad, launched by Decrypt’s parent company DASTAN, flipped bearish on Bitcoin overnight, with a narrow majority of predictions now expecting the cryptocurrency to drop to $105,000 before it reaches $125,000. Still, it’s not all bad news, with predictors placing an 88% chance on the cryptocurrency remaining above $105,000 throughout the month.

Bitcoin Market Just 4% Away From Another Red September: Analysis

Crypto markets plunge almost 4% as Bitcoin tests its $112K support mark and Ethereum loses steam. Is the Red September curse alive?

How Bitcoin Options Traders Are Positioning Amid the Crypto Market Rout

Experts note that options traders are pricing in further downside this month, even after the largest long liquidation event on Monday.

Bitcoin and Ethereum ETFs Bleed $439M as Options Traders Brace for More Downside

Monday’s redemptions point to “short-term positioning” after the Fed’s rate cut—while flows could swing again on Friday’s PCE data.

Will Traders in Asia Drive Next Phase of the Bitcoin Bull Run?

Asian crypto markets outpace US and EU with 47% returns vs ~30%, driven by retail trading and regulatory clarity in Hong Kong.

📊 Myriad Market of the Day

Bitcoin s next hit: moon to $125K or dip to $105K?

Trade "Bitcoin s next hit: moon to $125K or dip to $105K?" on Myriad

From our partner

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💬 Quote of the Day

❝

“I think with such a heinous crime as stealing from society's most vulnerable, we can set aside differences and use our skills for the greater good.”

Security researcher 1989 on crypto scammers who stole $31,000 from a cancer patient livestreaming on Pump.fun

🥇 Be First to Market With Myriad

Join the Myriad Markets Telegram to see the latest prediction markets the second they drop!

With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

From our partner

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The Token of Love Music Festival, titled by Gate and featuring Decrypt as a key partner, will take place in Singapore on October 1, 2025. The event boasts an all-star lineup including K-pop icon HyunA, U.S. rapper SUECO (known for viral hits “Fast” and “Paralyzed”), popular rock band CLICK#15, and history-making DJ KAKA—the first female artist to enter DJ Mag’s Top 100.

🕵🏻‍♀️ Editor’s Picks

Streamer Drained of $31K in Solana Raised for Cancer Treatment After He Downloads Game

Raivo “Rastaland” Plavnieks is battling a rare form of cancer, and Solana funds raised for his treatment were swiped via a malware-infected game on Steam.

New AI System Predicts Risk of 1,000 Diseases Years in Advance

Delphi-2M reads your medical history like a language model reads text—and forecasts health problems 20 years out with surprising accuracy.

Ontario Kidnapper Who Demanded $1M Bitcoin Ransom Sentenced to 13 Years

A Toronto-area abduction tied to a million-dollar Bitcoin demand ended with a 13-year prison term, while a co-accused minor awaits judgment.

📚 Watch and Learn

📹️ WATCH: Luca Netz Talks Playbook for Pudgy Penguins, $Pengu in Bull Market

Igloo Inc. CEO Luca Netz discusses how Pudgy Penguins aims to grow its brand and business and increase its access to capital amid the bull market in 2025.

🎓️ LEARN: What Is Arc? The Stablecoin Blockchain From USDC Issuer Circle

Arc is a new Layer-1 blockchain developed by USDC issuer Circle, designed specifically for stablecoin-native finance.

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