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<p>The post <a href="https://coinpedia.org/price-analysis/traditional-markets-caused-bitcoin-to-stumble-bearish-crypto-month/" rel="noopener noreferrer nofollow">Traditional Markets Caused Bitcoin to Stumble – Bearish Crypto Month</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin has historically been bearish in September, and it seems that this year will be no different. This morning, Bitcoin fell another 4.46%. On August 24, BTC climbed back up to $65,000 and consolidated in that zone for two days. Since its decline started on August 26, it signals that September will likely be another bearish month.&nbsp;</p>
<h2 class="wp-block-heading" id="h-international-stocks-tremble">International Stocks Tremble</h2>
<p>The major reason for this morning’s drop in Bitcoin is the losses in the US and Asian equity markets, where some major stocks tumbled by as much as 10%. Stocks tracked by the Nasdaq 100 and S&amp;P 500 also saw a drop of about 3.5%. In Asian markets, losses were seen not only in stock indices but also in currencies and commodities. It is common for the crypto market to witness a fall if the traditional markets start looking for a loss.</p>
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 <figure class="aligncenter size-full"><img decoding="async" width="994" height="484" src="https://image.coinpedia.org/wp-content/uploads/2024/09/04085446/Screenshot-2024-09-04-082012-1.png" alt="" class="wp-image-346787" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/04085446/Screenshot-2024-09-04-082012-1.png 994w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085446/Screenshot-2024-09-04-082012-1-300x146.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085446/Screenshot-2024-09-04-082012-1-768x374.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085446/Screenshot-2024-09-04-082012-1-150x73.png 150w" sizes="(max-width: 994px) 100vw, 994px">
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<h2 class="wp-block-heading" id="h-current-condition-of-bitcoin">Current Condition of Bitcoin</h2>
<p>Bitcoin is currently trading at $56,751. It is trying to stay above the latest support zone of around $56,600. If it fails to hold this level, Bitcoin may be forced to head toward $54,000. The Fear and Greed Index was recorded at 27 this morning, indicating a bearish sentiment in the market. The RSI has dipped down to 33.43 mark, indicating a fall in bull’s strength.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="465" src="https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-1024x465.png" alt="" class="wp-image-346788" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-1024x465.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-768x349.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-1536x697.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/09/04085452/Screenshot-2024-09-04-082214.png 1815w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="h-impact-on-altcoins">Impact on Altcoins</h2>
<p>Bitcoin’s price drop caused a decline in altcoins as well. The second-largest cryptocurrency, Ether, fell by 6.07%, while BNB, Solana, and Dogecoin saw drops of 4.29%, 6.13%, and 3.75%, respectively. It is common for altcoins to follow Bitcoin and hence we can see a 4.67% fall in the market cap of the whole crypto market which now stands at $1.99 trillion.</p>
<h2 class="wp-block-heading" id="h-looking-ahead">Looking ahead</h2>
<p>The fact that this is happening at the beginning of September feels like a market signal that this month will indeed be bearish, and history is likely to repeat itself. Investors are advised to practice caution while making financial decisions. While this can be a hard time for investors, traders always find opportunities to make some profits.</p>

Traditional Markets Caused Bitcoin to Stumble – Bearish Crypto Month

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