Sep 10, 08:32 PM

September Slump Hits S&P 500 and Bitcoin, Down 8% to $54K, Optimism for October Rally

September has historically been a challenging month for both the S&P 500 and Bitcoin. The S&P 500 has declined an average of 1.2% in September, making it the weakest month of the year for stocks, according to Dow Jones Market Data. Similarly, Bitcoin has experienced its worst monthly performance in September, averaging a 4.78% decline. This trend has continued in 2024, with Bitcoin down about 8% so far this month, dropping to around $54K. Despite these setbacks, historical data suggests that both the S&P 500 and Bitcoin often recover in the following months. Bitcoin, in particular, has shown strong performance in October and November, with average gains of 23% and 45%, respectively. Analysts, including Bitwise CIO and Rekt Capital, remain optimistic about a potential year-end rally for Bitcoin, citing historical patterns and the possibility of a new bull cycle phase starting in October.

#Bitcoin #Dow Jones Market Data #Bitwise CIO #Rekt Capital

Written with ChatGPT (GPT-4o).