September is historically seen as a bearish month for financial markets. This year, Bitcoin and other cryptocurrencies are experiencing a general correction as investors await significant economic data.
Analysts' Expectations for September
Analysts foresee September as a down month for Bitcoin (BTC) and Ethereum (ETH), alongside other altcoins. Expectations are linked to the Federal Reserve's (FED) interest rate decision that is set to be announced this month.
US Non-Farm Payroll Data
Today, the US Non-Farm Payroll data was released, which plays a crucial role in the FED's interest rate decision. The disclosed data includes:
- Non-Farm Payrolls: 22k announced vs. 75k expected (previous: 73k) - Unemployment rate: 4.3% announced – expected 4.3% – previous: 4.2%
Bitcoin's Reaction to the Data
Following the release of the data, Bitcoin reacted to the news, attracting the attention of investors. Several market players began to reassess their positions in the evolving circumstances.
September promises to be a challenging month for cryptocurrencies. Investors' focus will be on the FED's decision, which could significantly impact financial markets.
