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 <p>Shifts in the&nbsp;price of Bitcoin often drag the market down or up with it, and this time it was not different, considering the 3% dip in the total market value to $1.09 trillion. Ethereum continued with the rout following the rejection from weekly highs of $1,750. The most prominent smart contracts token has corrected 3% in 24 hours to $1,650.</p>  
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 <h2 id="btc-price-dumps-as-26k-bitcoin-options-expire-on-september-1">BTC Price Dumps As 26k Bitcoin Options Expire On September 1</h2> 
 <p><a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> has lost ground above $27,000, lacking the momentum to keep the rally intact after the hype around Grayscale’s win faded.</p> 
 <p>“After plenty of push &amp; pull this week, Bitcoin has returned to $26K, right back where it started prior to the Grayscale news boosted crypto markets,”&nbsp;blockchain analytics firm Santiment said in a post on X.</p> 
 <p>Historically August and September have been some of the most bearish months for <a rel="noopener noreferrer nofollow" title="BTC price" href="https://thebittimes.com/tag/btc-price.html">BTC price</a>, marred with low volatility and dwindling liquidity.</p>  
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 <p>According to data by Greeks.live, “26k BTC options are about to expire with a Put Call Ratio of 0.50, a max pain point of $27,000, and a notional value of $690 million.”</p> 
 <p>Key support areas starting with $26,000 and $25,000 are likely to feel the pinch as investors absorb the losses which follow renewed investor sentiment for gains above $30,000 earlier this week.</p>  
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 <p>“BTC and ETH falling on the eve of expiration, causing the delivery price to move away from the maxpain point, is relatively rare,”&nbsp;Greeks.live said via X. “It should be caused by a renewed delay in ETF approvals, resulting in the exit of short-term bullish gaming funds.”</p> 
 <h2 id="btc-price-dilemma-to-30k-or-20k">BTC Price Dilemma, To $30k Or $20k?</h2> 
 <p><a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> will likely attempt another trend reversal from the now critical support at $26,000 if investors rally behind it and buy the dip. A buy signal from the Moving Average Convergence Divergence (MACD) indicator has come at the right time when traders need assurance that a recovery to $28,000 and then to $30,000 will follow the dip.</p> 
 <p>The buy signal manifested with the blue MACD line crossing above the red signal line. Holding firmly above $26,000 would rule out a potential downfall to $25,000 which may increase the chances of <a rel="noopener noreferrer nofollow" title="BTC price" href="https://thebittimes.com/tag/btc-price.html">BTC price</a> tumbling to $20,000 before the 2024/2025 bull run starts.</p> 
 <figure id="attachment_158165" aria-describedby="caption-attachment-158165" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-158165" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201233%20558'%3E%3C/svg%3E" alt="BTC price chart with BTC back to $26k" width="1233" height="558" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/01/f1b2d9cf3a1c5c5e903e9d0b35e67eef.webp"> 
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  <figcaption id="caption-attachment-158165" class="wp-caption-text">
    BTC/USD daily chart | Tradingview 
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 <p>The crypto scene in September is expected to push investors to the limits, especially with the&nbsp;US SEC delaying its decision on all seven spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETFs’ proposals.</p> 
 <p>Experts believe&nbsp;the approval of a spot ETF&nbsp;would be one of the driving factors in the next bull market in addition to the Bitcoin halving in April 2024.</p> 
 <p>However, the Federal Reserve has hinted at hiking interest rates in September after economic indicators in August showed that the road to bringing inflation down is still long. A tighter monetary policy implies that risk assets like Bitcoin would have the momentum to keep the trend higher or may retrace further as investors turn to other traditional assets.</p> 
 <h3 id="related-articles">Related Articles</h3> 
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  <li>Bitwise Withdraws BTC &amp; Eth Strategy ETF Application</li> 
  <li>Crypto Prices Today: Pepe Coin, STX Faces Price Correction, MKR Token Takes The Bull Road</li> 
  <li>Major Japanese Exchange to Support Shiba Inu on Polygon</li> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/btc-price-in-shambles-again-sell-off-to-20k-impending-tbt61176.html">https://thebittimes.com/btc-price-in-shambles-again-sell-off-to-20k-impending-tbt61176.html</a></p>

BTC Price In Shambles Again, Sell-Off To $20k Impending?

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