Bitcoin Price drops to $107k

In September, we continue to see a downward trend in the crypto market. CoinCodex’s statistics note that Bitcoin’s (BTC) price has fallen to the $107,000 levelAfter reaching an all-time peak of $124,128 in August 14. BTC price dropped by 0.9% daily, 4,2% weekly, 6.8% 14-day, and 5.5% from the previous months.

Why is Bitcoin falling in price?

The latest market price crash was triggered after a lower-than-anticipated producer price index (PPI) figure for July. Markets gained steam following Federal Reserve chair Jerome Powell’s speech expressing dovish sentiments after the Jackson Hole Meeting. Market seems to have dropped again over the past weekend.

It is possible that the correction was also triggered by increased profits after Bitcoin (BTC), which reached a new all-time-high. BTC was not the only cryptocurrency to reach new records in recent weeks. Ethereum (ETH), XRP and BNB were also among them.

The month of September is historically a bad one for Bitcoin. BTC prices have historically been pulled back after summer. This pattern could repeat itself in 2025.

Will the Market Recover?

The Federal Reserve is likely to cut rates by at least 25 basis points this September. Investors are often more willing to take risks after a rate reduction. This could cause a rise in Bitcoin investment, which would then lead to an overall market resurgence.

The following are some of the most effective ways to get started: financial institutions anticipate the Federal Reserve to cut interest rates by a total of 75 basis points By the end of 2018. Bitcoin and cryptocurrency will see a huge surge in investments if interest rates dip by 75 basis points.

Bitcoin’s (BTC) performance hasn’t been great in September, but it is likely to pick up by the 4th quarter. ETF inflows should continue and investors will likely follow the strategy of buying on dips. Bitcoin’s value could be further boosted by both of these developments.