Bitcoin ended September with a 6.33% gain, breaking the "Red September Curse," and entered "Uptober" but faces challenges from Federal Reserve rate hikes and high US Treasury yields.
Bitcoin recorded a 6.33% gain in September, breaking the historical "Red September" curse, and entered the traditionally strong "Uptober" at a price of $83,823. However, the market is facing macroeconomic headwinds, including the Federal Reserve's rate hike on September 16, raising the interest rate range to 3.75%-4% (the first hike this year), and the US 10-year government bond yield closing at a 52-week high of 5.289% at the end of September. Federal Reserve Chairman Warsh stated that inflation "remains high," and the Federal Reserve's median forecast indicates another 25 basis point rate hike this year. Prediction market Myriad data shows that traders believe Bitcoin has a 90% chance of hitting a high of $85,000, but only a 7% chance of reaching an all-time high before 2027.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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