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Bitcoin Recovers to $58.3K at Start of Seasonally Bearish September

Memecoin DOGE led losses among major tokens with a 5% slide in the past 24 hours ahead of the Labor Day holiday in the U.S.

Actualizado 2 sept 2024, 1:47 p. .m.. Publicado 2 sept 2024, 8:21 a. .m.. Traducido por IA
September is typically a bearish month for bitcoin.  (National Museum of American History, modified by CoinDesk)
September is typically a bearish month for bitcoin. (National Museum of American History, modified by CoinDesk)
  • Bitcoin rose by 0.5% to around $58,300, while cryptocurrencies like dogecoin and toncoin are seeing losses up to 3% on the Labor Day holiday in the U.S.
  • Market analysis suggests a bearish trend for September historically, some traders noted, with bitcoin seeing a monthly decline of 6% on average.

Bitcoin recovered to around $58,300 after slumping to near $57,500 on Monday. The world's largest cryptocurrency remains 8.6% down over the past seven days.

BTC rose by 0.5% in the past 24 hours, whilst majors xrp , Cardano's and dogecoin fell by as much as 3%. The broad-based CoinDesk 20 Index (CD20), a liquid fund tracking the largest tokens, rose by 0.45% during the same period.

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U.S.-listed exchange-traded funds (ETFs) tracking BTC posted total net outflows of $175 million on Friday, extending a losing streak to four days. Ether ETFs had zero net inflows or outflows despite $173 million in trading volume, data tracked by SoSoValue shows. Traditional markets will remain closed in the U.S. due to the Labor Day holiday.

Some traders noted that BTC’s initial loss is in line with the bearish seasonality observed in September, but stated that interest-rate cuts by the U.S. Federal Reserve could break the trend.

“September is a historically negative month for Bitcoin, as data shows it has an average value depletion rate of 6.56%,” Innokenty Isers, founder of crypto exchange Paybis, said in a Monday email. “Should the Feds cut the interest rate in September, it might help Bitcoin re-write its negative history as rate cuts generally lead to excessive US dollar flow in the economy – further strengthening the outlook of bitcoin as a store of value.”

Seasonality is the tendency of assets to experience regular and predictable changes that recur during the calendar year. While it may look random, possible reasons range from profit-taking around tax season in April and May, which causes drawdowns, to the generally bullish “Santa Claus” rally in December, a sign of increased demand.

“Overall, the macroeconomic indices, spot Bitcoin ETF adoption, and favorable hashrate might make September a relatively better month for BTC this quarter,” Isers wrote.

(UPDATE Sept. 2, 13:47 UTC): Updates prices in headline and first two paragraphs.

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Protocol Research: GoPlus Security

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Yang perlu diketahui:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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Bulls beware — BofA Fund Manager Survey flashing contrarian sell signal

(Spencer Platt/Getty Images)

Bitcoin could see further declines if traditional markets sharply pull back, or just possibly a broad tumble in stocks could set the stage for a bull run in crypto.

Lo que debes saber:

  • Investor cash allocations fell to a record-low 3.3%, according to the Bank of America's latest Fund Manager Survey, while exposure to equities and commodities reached the highest levels since early 2022.
  • Optimism about a soft landing and rising profits pushed sentiment to its strongest point since mid-2021.
  • A decline in traditional markets might seem to point to further losses in crypto, but it could also be a bullish signal.