Bitcoin Drops Back Below $65,000 to Finish September on a Down Note
- Token’s September gains were the biggest in a dozen years
- October has traditionally been the strongest month for Bitcoin
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Bitcoin is closing out one of its biggest September rallies on a down note, dropping back below $65,000 and undercutting optimism going into what has historically been the cryptocurrency’s best month for returns.
“After a strong run-up since early September, technical indicators are now signaling headwinds for Bitcoin,” said Brian Strugats, head of spot trading at the crypto prime broker FalconX. “The stochastic RSI is in overbought territory, and large sell walls, particularly at the $66,150 level, are emerging from significant BTC holders on exchanges.”