Bitcoin Price Poised to Repeat Its Q4 Rally After a September Upswing

Bitcoin price shows a modest loss of 0.13% during Sunday trading, currently trading at $65789. If the monthly candle closes around the aforementioned value, September 2024 would record around 15% growth.

Bitcoin price showed a modest loss of 0.13% during Sunday trading, currently trading at $65789. If the monthly candle closes around the aforementioned value, September 2024 would record around 15% growth.

The historical shows this recovery trend in this month is rare, but if happening it signals the potential growth in Q4.

If the monthly candle closes around $65800, September 2024 would record an 11.5%-15% growth.

Since 2013, Bitcoin has experienced a September positive trend only thrice scenarios, each acting as a precursor of the significant rally to 2024. If history is an indicator, the BTC price could witness a prolonged recovery in Quarter 4, potentially pushing the asset past All time high of $73,750.

According to the Coinglass data, the Bitcoin price trades at $65818 while the market cap holds at $1.3 Trillion.

ETFs are heating up in the cryptocurrency market, with spot Bitcoin ETFs witnessing substantial inflows last week. On Friday alone, Bitcoin recorded a remarkable $494.4 million in net inflows, according to Sosolvaue data.

Over the weeks, the spot Bitcoin ETFs witnessed a weekly inflow of $1.1B, indicating growing institutional interest. Moreover, the spot ETH ETH recorded a $85 million weekly info. This inflow is a positive sign for the market, potentially indicating rising confidence in digital assets.

BTC Eyes 25% Rally as Bull Flag Pattern Signals Breakout

This week, the Bitcoin price prediction recorded a substantial jump from $60800 to $65910, registering a 5% This upswing assisted the price to extend V-shaped in the daily chart, reflecting a sudden flip in market sentiment.

With sustained buying, the BTC price surged 3% before challenging the resistance trendline of a bull-flag pattern. Theoretically, the chart setup drives a temporary counter-trend move before providing a deceive breakout.

An upside breakout will accelerate the bullish momentum and drive a rally to $85000, accounting for 25% potential growth.

On a contrary note, if the overhead supply from the resistance trendline persists, the Bitcoin price could spark another reversal.

Frequently Asked Questions (FAQs)

1. How much institutional interest has Bitcoin seen recently?

Bitcoin ETFs are experiencing significant inflows, with $494.4 million flowing into Bitcoin on Friday alone. Over the weeks, the institutional interest has amounted to over $1.1 billion in net institutional inflows.

2. Bitcoin on track for another Q4 rally in 2024 after a strong September?

If history is to be believed, and with Bitcoin price showing a strong recovery in September 2024, another Q4 rally could be on the cards. However, this will depend on various factors, including institutional interest, macroeconomic conditions, and the overall market sentiment.

3. What is the potential impact of a bull-flag breakout on Bitcoin's price?

A bull-flag breakout can have a bullish impact on Bitcoin's price, potentially driving a substantial rally. The breakout could lead to a move towards $85000, indicating a 25% potential growth from the breakout point. However, if the resistance at the trendline holds, another price reversal could occur.

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