In brief
- Bitcoin and Ethereum have risen 6% and 4% this month, defying the usual September slump.
- Options data show bullish bets outweighing bearish ones, with weighting geared for higher year-end prices.
- Expectations of multiple Fed rate cuts in 2025 are helping underpin appetite for risk assets.
September’s slump may not be the last, but an expert says the crypto market still has room to rally into year-end.
“There’s been growing speculation that we’ve reached the top of this cycle, but I don’t think that’s the case,” Sean Dawson, head of research at on-chain options platform Derive, told Decrypt.
He believes the second half of September might see increased volatility and some short-term pain due to the month’s historical seasonality, driven largely by the U.S. financial year-end.
Bitcoin dropped, roughly 1.29% from Saturday’s high of $116,245 to $114,770, CoinGecko data shows.
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Author: Akash Girimath
