Bitcoin’s network activity has dropped significantly, with a 13% reduction in adjusted transfer volume. Institutional outflows from Bitcoin ETFs are compounding pressure, suggesting weak demand ahead as analysts forecast a cautious market.
Historically, September has yielded negative returns for Bitcoin, averaging -3.77%. Analysts warn that if outflows continue, the price may fall below $100,000, affecting market sentiment as participants are advised to avoid new long positions until Bitcoin surpasses $118,000.
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