Yes, the yearly chart shows that September is always a bad month for bitcoin but another reason is since the halving happened. Bitcoin monthly price poll topic so far most people have made wrong predictions, Bitcoin does not move according to crowd expectations. So people start to lose their expectations and instead make more neutral predictions because no one wants the market to fall any further nor does they believe the market will rise. But every time the price of bitcoin increases, some people will immediately change their minds.
It can be said that market sentiment changes very quickly and market makers are very good at manipulating our sentiment.
The thing is right before the starting of this year when the ETF was approved and bitcoin rose to highs that even broke the previous all time which was a thing that happens after halving there was a shift of market sentiment with investors and traders all turning super bullish due to the euphoria that the trend brought and many were not even expecting anything bearish again although we know it is undeniable that there will be correction and that’s why you see that most of those predictions were wrong because their were base on traders sentiment and not on any actual data, it is of recent that investors and traders are beginning to keep calms and allow the market trend follow it self.
The Fed's 0.5% rate cut did not necessarily ease recession fears; on the contrary, it made them worse. They rushed to cut interest rates because they were probably afraid of a recession, not because the economy was getting better as they said. But surprisingly, the market reacted positively.
Personally, I am in no rush, I will wait until the second rate cut in November, then I can be confident enough to think we will enter bull season.
Yeah I have seen many economists predicting a worrisome recession data even with the rate cut most are of the opinion that the government did that to ease the recession panic, this is the first time since 2020 so maybe we wait for a new FOMC report and see maybe it wasn’t a panic act.
If anyone have been following the bitcoin trends one can easily see that the easiest way the market gets manipulated is actually through the traders sentiment, just a news of recession fears and the Japanese interest rate hike caused a huge dump in August, a news now about rates cuts caused its own pump again. This panic buys and sell are to me done by small hands who do not understand how the market trend works