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Crypto Market Wipes Out September Gains as Bitcoin Barely Hangs On: Analysis

Crypto News

In brief

  • The crypto market is now deep in the red for September, shedding close to 5% in total value in 24 hours.
  • Bitcoin is holding onto a slim 1% gain for the month, staying in the green for now.
  • Technical indicators suggest market exhaustion, but prediction markets remain somewhat optimistic.

Brace yourselves, the Red September curse is upon us.

The crypto market has officially entered negative territory for September, despite Bitcoin holding on to a slight gain, after a brutal week that erased $162 billion from crypto valuations. The wipeout canceled out the gains generated from the bullish two-week start to the month, back when Bitcoin briefly notched its second-best September performance in 13 years.

Bitcoin price data. Image: Tradingview
Crypto market cap data. Image:…

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