Bitcoin (BTC) Drops Towards $57.5K, Extends Weekly Loss to 10% at Begin of Seasonally Bearish September

“September is a traditionally detrimental month for Bitcoin, as knowledge exhibits it has a mean worth depletion charge of 6.56%,” Innokenty Isers, founding father of crypto trade Paybis, stated in a Monday electronic mail. “Ought to the Feds minimize the rate of interest in September, it’d assist Bitcoin re-write its detrimental historical past as charge cuts typically result in extreme US greenback movement within the financial system – additional strengthening the outlook of bitcoin as a retailer of worth.”