Bitcoin nears green September close as bulls look to October

Bitcoin traded near $84,000 at press time, up more than 6.5% in September and heading toward a positive close in what has historically been its weakest month. That recovery gives bulls a constructive starting point for October, which has historically delivered some of Bitcoin’s strongest monthly returns, according to CoinGlass data. However, Bitfinex analysts said in their new report on Wednesday that a sustained breakout will require stronger spot buying as ETF inflows slow and overhead supply limits gains. Bitcoin has recently consolidated around $83,000 to $87,000 as traders await a catalyst. A monthly close above $83,500 would preserve much of September’s advance, although that level alone would not confirm a reversal of the broader downtrend. The prospect of a green close nevertheless stands out against September’s historical performance. According to CoinGlass data, the month has produced an average loss of approximately 2.4%, while October has delivered an average gain near 20% and a median return around 15%. That seasonal shift offers a favorable backdrop, but stronger demand will determine whether Bitcoin can capitalize on it. Spot demand must drive the next move “With lev...