Bitcoin (BTC) is on course to change its performance this September, which is historically known as a bearish month. The cryptocurrency has surged by 2.41% today, trading at $66,462. The strongest September rally occurred in 2016, with a 6% gain, but 2024 is set to surpass this milestone.
Historically, whenever BTC ends with a positive value at the end of every Q3 (September), it remains bullish in the other months of Q4 (October to December)
This has happened in previous years, specifically in 2015, 2016, and 2023. Now, it’s likely that the same could happen in 2024. With retail interest returning and historical patterns aligning, 2024 could see Bitcoin poised for a strong upward trajectory.
Bitcoin’s Historic Price Trend on Positive Values at Key Time Frames
Over the past year, BTC has achieved a remarkable 153.21% increase, reflecting its enduring dominance in the cryptocurrency market.
The asset has also recorded a notable 12.27% rise over the past month, with a weekly gain of 4.96%. Today, Bitcoin is up by 2.29%, trading at $66,462. Its 24-hour trading volume is $37.85 million, a 23.98% increase.
Moreover, the market cap has grown to $1.3 trillion, reflecting a 2.28% rise. This steady upward trajectory showcases the growing interest and confidence in Bitcoin. It has continued to outperform expectations, even during typically bearish market periods.
Veteran Research Highlights Metrics Flipping Bullish for Bitcoin
Recent insights from Julio Moreno, the Head of Research at Cryptquant, shed light on the growing bullish sentiment surrounding Bitcoin.
Moreno noted on the X platform that the Coinbase premium hit a two-week high on September 26. Also, Bitcoin prices surged past the $65,000 mark.
This premium is a significant indicator of US retail investor demand, with a higher value suggesting increased buying pressure. Furthermore, the resurgence of the Coinbase premium coincides with a notable uptick in daily inflows to spot Bitcoin ETFs.
According to reports from Cointelegraph, the total aggregated inflows for 11 spot Bitcoin ETFs reached $365.7 million on September 26. This coincides with BTC’s rise to new monthly highs.
This trend indicates that institutional investors may gradually shift their focus back to Bitcoin. It’s occurring after the recent favorable interest rate cuts announced earlier this month.
In addition to these factors, the spot cumulative volume delta across all exchanges also reached a new monthly high. It demonstrates that the net buy side of spot volumes dominates the market.
While this could suggest that retail investors are starting to return, more evidence will be needed to confirm this emerging trend.
Bitcoin Hovering Near Key Resistance At $67,143 – Can BTC Reach $70,000?
In the chart above, Bitcoin (BTC) trades just below the upper Bollinger Band while comfortably positioned above both the middle and lower Bollinger Bands, which serve as key support levels at $61,021 and $54,900.
This position indicates that Bitcoin maintains a bullish momentum while remaining within a defined trading range. Secondly, the Moving Average Convergence Divergence (MACD) is above the signal line, accompanied by bullish histogram bars.
This signals potential upward price movement, reinforcing the bullish outlook for Bitcoin in the short term. If BTC can maintain its position above these support levels and sustain its momentum, it may pave the way for further price increases.
As BTC continues to gain, investors aiming to join an affordable project could consider Pepe Unchained.
Pepe Unchained Presale: Newbie with An Unprecedented Success
Pepe Unchained ($PEPU) has achieved an extraordinary milestone by raising $15.7 million in its presale. This new meme coin, operating on its own Ethereum Layer 2 blockchain, launched this summer amidst immense hype.
It captures the attention of meme coin enthusiasts eager to capitalize on its attractive staking rewards and faster transaction speeds. With just over a day remaining to purchase $PEPU at its current presale price of $0.00985, investors can buy before it increases.
Those who act quickly can maximize their potential rewards, as an investment of $100 can secure over 10,000 $PEPU tokens. The Pepe Unchained team recently unveiled a comprehensive ecosystem roadmap through a multi-tweet thread on X.
Among the exciting developments is the introduction of a custom Layer 2 decentralized exchange (DEX), designed for cost-effective swaps between $PEPU and supported tokens.
The Pepe Foundation will also be established to support and fund an ecosystem of top crypto developers. Beyond the initial coin offering (ICO), the anticipated listing of $PEPU on exchanges has the potential to significantly increase its value.
Given the historical performance of similar meme coins, now could be an ideal time for investors to jump in.
What Sets Pepe Unchained Apart
Unlike its predecessors, $PEPU is designed for HODLing (holding onto the asset long-term) rather than quick flips. Pepe Unchained offers significant advantages, including a transaction speed up to 100 times faster than traditional ERC-20 tokens.
This Layer 2 solution alleviates network congestion and reduces transaction fees, which have historically plagued Ethereum. Pepe Unchained also boasts a variable yield rate of 139% APY for $PEPU stakers, providing attractive incentives for long-term holders.
A total of 3.2 billion $PEPU tokens—40% of the total supply—are allocated to the presale, with 30% designated explicitly for staking rewards.
Additionally, 10% will be used for marketing efforts, while the remaining 20% is split equally between DEX liquidity and project development. This will ensure the project’s sustained growth and success.
The opportunity to invest in Pepe Unchained quickly runs out as the presale nears its end. Interested parties should act now to secure their share of this groundbreaking meme coin and join its vibrant community.