The last Sunday of September started and BTC continued to remain almost stagnant for 24 days. Looking at the historical data, the fact that the price did not experience a major decline can be seen as positive for September. On the other hand, September did not go well for investors following the loss in the past 6 months.
There are less than 7 days left until the end of September, and this month, the Bitcoin price failed to make the expected breakthrough. Although the declining resistance line is gradually moving to lower levels, BTC seems incapable of surpassing $28,000 for now.
Volumes are weak, investors do not want to take more risks in the midst of market uncertainty. The foundation of this is actually laid with the sledgehammers of excessive optimism in 2022. Investors who have been disappointed with every attack while markets were rising did not easily regain their current psychology. Of course, for it to recover, those who expect a decline in the opposite direction should start to receive sledgehammer blows to their heads.
Time is passing like water, and September is also ending for crypto currency investors in a sluggish manner. Cumulative volume decreased by 30% compared to yesterday and fell to $20 billion. BTCD recovered to 49.1%. The total value of all crypto currencies continues to hold at the threshold of $1.05 trillion.
The BTC price changed by 0.05% compared to 7 days ago. In other words, the price is still in the same place as it was 1 week ago. The altcoin that was profitable on a weekly basis was LINK Coin. Despite such great news and steps taken, it finds buyers at $7 with an increase of 15%. However, compared to the top 5 crypto currencies, it is still a significant gain. Swift’s announcements regarding its latest tests produced positive results for Chainlink.
On the other hand, the TON Coin rally ended and the price returned its throne to Solana. RUNE, GALA, and SNX were the losers of the week with losses close to double digits.
So, what is the situation in the US? Stock markets were shaken after the Fed. The dollar index is at risk of jumping to 114 because it has exceeded the threshold of 105.5.
Oil has dropped by about $1 in the last 5 days, but it is still above $93. The increase in DXY directly suppresses crypto currencies. On the other hand, the rise in oil prices indirectly leads to a negative result due to its impact on Fed policy, as it raises inflation.