United

Bitcoin

<div class="sg-post-des">
 BTC price strength marches on despite the curveball CPI print and FTX liquidation go-ahead, and Bitcoin traders are hopeful for long opportunities. 
</div>
<div class="cointelegraph">
 Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news.
 <figure>
 <img src="https://cdn.thebittimes.com/images/2023/09/14/a77a1b0a90da8bbdf17c3ae87614c640.webp">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: TradingView
 </figcaption>
 </figure>
 <h2 id="trader-bitcoin-market-feels-different">Trader: Bitcoin market "feels different"</h2>
 Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> highs of $26,535 on Bitstamp.
 The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000.
 Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance.
 At the time of writing, BTC/USD traded at near $26,300, still up 5.5% versus its September lows.
 “Coming up to the range highs and once e flip these levels we can look to finally get into a safe position and long,” popular trader Crypto Tony told subscribers on X (formerly Twitter) on the day.
 <figure>
 <img src="https://cdn.thebittimes.com/images/2023/09/14/9c178b79f48851c40c9346d009cb3fb2.webp">
 <figcaption style="text-align: center;">
 BTC/USD annotated chart. Source: Crypto Tony/X
 </figcaption>
 </figure>
 Fellow trader Daan Crypto Trades suggested that overall Bitcoin market dynamics had changed versus the period of weakness seen around the monthly close.
 “Market feels different this week. Dips being bought up relatively quick and while <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> keeps sweeping highs it keeps crawling itself back and leaving lows untouched,” he wrote. 
 <blockquote>
 “Spot bid also stronger than the past few weeks. Might be wrong but I'm optimistic.”
 </blockquote>
 Additional <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> predicted a longer-term BTC <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> breakout should U.S. regulators approve a Bitcoin spot <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> exchange-traded fund, or ETF, in the coming months.
 <blockquote class="twitter-tweet">
 $BTC.D Still holding on to the previous range high and bouncing. In the chop region but ultimately I think this would go higher in case of a BTC ETF Approval (one day). pic.twitter.com/3ob4MHl53l— Daan Crypto Trades (@DaanCrypto) September 13, 2023
 </blockquote> 
 More cautious was trader Skew, who referenced on-chain volume primed to cool once more after a “relief rally.”
 “Daily structure looks fairly good here &amp; decreasing volume so could definitely be looking towards a relief rally before lower,” part of commentary read, noting that BTC/USD was still holding the key $25,000 level.
 <figure>
 <img src="https://cdn.thebittimes.com/images/2023/09/14/74f0d11fcd14027c412a74cdfca822a8.webp">
 <figcaption style="text-align: center;">
 BTC/USD annotated chart with volume. Source: Skew/X
 </figcaption>
 </figure>
 <h2 id="first-green-september-in-seven-years">First "green" September in seven years?</h2>
 Up 1.15% month-to-date at the time of writing Bitcoin was nonetheless on course for its best-performing September in years.
 Related:&nbsp;Bitcoin all-time high in 2025? BTC <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> idea reveals ‘bull run launch’
 According to data from monitoring resource CoinGlass, the last time that BTC/USD gained in September was in 2016.
 That year was its best on record at 6.35%, while its biggest "red" September month two years prior, when it lost 19%.
 In 2022, Bitcoin shed 3.1% before climbing another 5.6% in October — a popular month among bulls, who informally refer to it as "Uptober."
 <figure>
 <img src="https://cdn.thebittimes.com/images/2023/09/14/6e8fd80b58e7261555aea55ab58533eb.webp">
 <figcaption style="text-align: center;">
 BTC/USD monthly returns chart (screenshot). Source: CoinGlass
 </figcaption>
 </figure>
 This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. 
 <template data-name="subscription_form" data-type="markets_outlook"></template>
</div>
Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-ignores-cpi-ftx-as-btc-price-hits-september-high-near-26-6k-tbt62696.html">https://thebittimes.com/bitcoin-ignores-cpi-ftx-as-btc-price-hits-september-high-near-26-6k-tbt62696.html</a>

Bitcoin ignores CPI, FTX as BTC price hits September high near $26.6K

Table of Contents

TheBitTimes

Other articles published on Sep 14, 2023

NFT Marketplace Voice Announces its Closure; Assures Asset Safety

North Korea linked to latest crypto hacks, surpassing $270m

MNST Stock (NASDAQ: MNST) Price Prediction: Will MNST Reach $100?

Thailand’s Second-Largest Bank Launches $100M Fund for Web3, AI and Deep Tech Startups

Emurgo Looks to Fill in Missing Cardano Ecosystem Components

The Ultimate 2024 Guide to NFT for Dummies

Join our free newsletter for daily crypto updates!