Bitcoin is set for a potential correction below the $50,000 psychological mark in September, according to analysts. The token has struggled to gain momentum during an over two-week downtrend, falling over 12% since Aug. 26 to trade at $56,133 as of 11:24 am UTC.

Cyrus Ip, the head of content at Bybit exchange, believes that round psychological numbers like $50,000 invite significant investor attention, and a fall below that level could lead to a significant hit in crypto investor sentiment and lower lows.

The declining trading volumes and slowing ETF inflows could set the stage for this correction, but analysts expect Bitcoin to rally to new highs after the dip. Investors are advised to "own this piece of crypto history" as Bitcoin could extend its "summer crab walk" into September.

The article provides an in-depth analysis of the current market conditions and the potential impact on the Bitcoin price in the coming months, offering valuable insights for crypto investors and enthusiasts.

Source: https://cointelegraph.com/news/bitcoin-sub-50k-correction-september-analysts

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