Bitcoin faces decline in week 38, marking its third worst performance historically

Historically, Week 38 is Bitcoin’s third-worst performing week with an average decline of -2.25%. Currently, Bitcoin is trading near 113,000 USD.

The max pain level for options expiry stands at 110,000 USD, suggesting further downside. Perpetual funding rates have dropped to 4%, signaling lower demand for leveraged positions.

While Bitcoin has seen a slight dip, it remains 4% up for September. Rising gold prices, now up 42% year-to-date, and focus on AI stocks are detracting from Bitcoin’s momentum.