Bitcoin Price News: BTC Eyes Historic September Gains, Retail Investors Drive Market Momentum
Bitcoin is on track to have its best September ever this month, despite the fact that September is typically bearish. Additionally, indications of a retail rebound are beginning to surface. The largest rise recorded in September prior to this was a 6% increase in 2016.
A common way to measure the demand from US retail investors is to look at the Coinbase premium. Head of Research at Cryptquant, Julio Moreno, notes in an X post that on September 26, as prices rose beyond the $65,000 level, the Coinbase premium hit a two-week high. Furthermore, the Coinbase premium return is currently rising in tandem with daily inflows into Bitcoin ETFs.
Bitcoin’s HTF Breakout Above $65K Fuels Optimism for New Bull Market
Cointelegraph reports that on September 26, when the price of bitcoin reached new monthly highs, the 11 spot ETFs received a total of $365.7 million in inflows. Based on the positive interest rate reduction that was announced earlier this month, it appears that institutional investors are gradually returning to Bitcoin. With the net buy side of spot volumes controlling the chart, the spot cumulative volume delta across all exchanges also hit a new monthly high at the same time.
Cointelegraph said on September 23 that a new higher-high pattern for Bitcoin was being attempted, if it could break $65,000. After three days, BTC broke a five-month bear trend by closing a daily candle above the prior resistance at a higher time frame, or HTF. As seen in the chart, once Bitcoin closed a daily candle above the HTF barrier at $65,000, the prior higher low (HL) and lower low (LL) pattern was broken. A major indication of a possible new long-term trend starting on the chart is an HTF breakout.
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