Ethereum

Reserve Dollar

Bitcoin

when

Reserve

September could turn out to be a major month for the crypto market as key events like presidential debates and Federal Reserve decisions are set to happen.
September has generally proven to be a tough month for the crypto market. Bitcoin fell to the $26,000 to $27,000 range in September 2023. It was a similar case in 2022 when BTC fell as low as $18,000 and traded in the range of $22,000 amidst the market downturn.
Interestingly, Bitcoin, which peaked in 2021, also saw its price drop to between $41,000 and $48,000 in September. However, a series of events are slated for September that have the potential to affect the overall crypto market.
<h3 id="bureau-of-labor-statistics-jobs-report-could-affect-crypto">Bureau of Labor Statistics’ jobs report could affect crypto</h3>
The Bureau of Labor Statistics’ upcoming jobs report is one of the major key events that is set to happen on September 6.
Earlier reports have shown that they can move the crypto market. This can be supported&nbsp; by the drop in prices of Bitcoin and Ethereum after the August report.
Another major event is the presidential debate between Vice President Kamala Harris and former President Donald Trump. This is set to happen on September 10 and could affect the crypto industry considering the varying crypto stances of both the candidates.
<h3 id="fed-expected-to-cut-interest-rates-on-september-18">FED expected to cut interest rates on September 18</h3>
The upcoming Federal Reserve interest rate decision could affect the crypto and traditional markets. The market is expecting an interest rate cut of 25 to 50 basis points.
OTC Capital CEO Brian Dixon stated that even though 67.5% of the market expects a 25 BPS cut as per CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noopener noreferrer nofollow">FedWatch tool</a>, a higher than expected rate cut could end up bearish for the market.
Additionally, the stablecoin sector in Europe is set to introduce euro-backed stablecoins, Banking Circle’s EURI and Circle’s EURC. Considering the historical volatility, September could be a crucial month for the crypto market. However, the exact reaction of the market can only be analyzed after assessing the outcome of these key events and developments.

Major events affecting crypto market in September

Table of Contents

Cryptopolitan_News

Other articles published on Sep 3, 2024

How High Can Kaspa Rise in 2024 and 2025? KAS Price Predictions

Analysts Highlight Key Events Impacting Bitcoin’s Price

Metaplanet Inc. Teams Up with SBI Group for Bitcoin Trading and Custody in Japan

Qtum Launches Innovative MetaMask Snap for Seamless Blockchain Integration (3 Sep)

Binance Exec Tigran Gambaryan Pleads With Nigerian Prison Guard For Help And Calls Legal Case A “...

Magic Eden Announces Official Ecosystem Token, ME

Join our free newsletter for daily crypto updates!