Bitcoin Could Face More Declines in September
Historically, September is often a bad month for Bitcoin (BTC). The price has usually dropped during this period. For example, BTC fell 8% in September 2020, 7.3% in 2021, and 3.1% in 2022. Although it managed small gains of 4% in 2023 and 7% in 2024, this year could bring back the downtrend because institutional demand is weakening and market sentiment is turning negative.
ETF Outflows Add More Pressure
In August, Bitcoin exchange-traded funds (ETFs) saw big outflows, with investors pulling out about $751 million. This ended a four-month streak of steady inflows that previously pushed BTC higher.
Since spot BTC ETFs were launched, Bitcoin’s growth has been closely tied to how much institutional money flowed in. Now, with inflows slowing down, BTC could struggle to hold its momentum. If retail investors don’t step in, the price might face more pressure.
Market Sentiment is Bearish
Data from Santiment shows Bitcoin’s weighted sentiment is currently at -0.707. This means social media discussions around BTC are mostly negative. A negative sentiment often reflects doubt among investors, which could reduce buying interest.
Possible Price Levels
If demand keeps falling, BTC’s price could drop toward $107,557. If that support breaks, the decline might continue deeper to around $103,931.
