The leading cryptocurrency Bitcoin closed September with a price loss of 7.03%. However, compared to previous years, this time September was not as bad as expected.
For the fifth time in a row, Bitcoin (BTC) bulls closed September lower, according to data from Bybt. But September 2021 brought less pain than 2019-2020.
Bitcoin (BTC) price has dropped 7.03% this September. In the last two years, the first month of autumn closed with losses of 13.38% and 7.53%. It should also be noted that this September, Bitcoin (BTC) recorded its most painful day ever: it lost more than $10,000 in one day on September 7.
At the same time, Bitcoin (BTC) broke the trend in terms of quarterly performance in 2021. Bitcoin managed to close the 1st and 3rd quarters in 2021 (while historically bearish for BTC) with 103% and 25% gains, respectively.
Now, Bitcoin (BTC) is entering its most profitable quarter for bulls: in the last eight years, at least two of the three months in Q4 have closed in the green five times.
Shortly after exiting September, Bitcoin (BTC) started to recover. Today, it gained $3,500 in about three hours. A similar rise has not been recorded by Bitcoin (BTC) since April 2021. The futures markets slayed the bears today: over 66% of the $400 million liquidation recorded in the last 12 hours were short (short position).
In addition, such a rise cannot be expected to happen overnight. According to on-chain data from leading analytics vendor Glassnode, large-scale Bitcoin (BTC) holders continue to accumulate coins.
The total volume of #Bitcoin held by Long-Term Holders has reached a new all-time-high of 80.5% of circulating $BTC.
The breakdown of circulating supply is:
– LTH supply profit = 71.1%
– LTH supply in loss = 9.4%
– STH supply = 19.5%Live chart: https://t.co/paIeUkvl6I pic.twitter.com/nMyfHfzyxU
— glassnode (@glassnode) September 27, 2021
In late September 2021, the number of Bitcoins (BTC) accumulated by long-term holders reached a historic peak at 80.5% of the circulating BTC supply.
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