Key Takeaways
- Bitcoin slumped overnight and is well below its March all-time high, with investors searching for the next catalyst to drive prices higher as the January launch of spot bitcoin ETFs and April’s bitcoin halving event slip further into the rearview mirror.
- The pioneer cryptocurrency has only generated a positive return three times in September over the last decade, according to data from crypto analytics site Coinglass.
- Bitcoin’s price has traded within a descending channel since early July, with volumes remaining mostly subdued throughout the pattern, indicating lackluster investment interest.
- Investors should watch bull case price levels around $68,500 and $72,000, while monitoring bear case price levels near $53,000 and $47,000.
Bitcoin (BTC) slumped overnight and is well below its March all-time high as investors search for the next catalyst to drive the price higher heading into a month when the pioneer…
