Bitcoin traders seem to be brushing off concerns about the usual September dump, even though history suggests otherwise. Tyr Capital's chief investment officer, Ed Hindi, believes the combination of a Federal Reserve rate cut and a relatively robust US economy could "surprise the bears" and lead to Bitcoin finishing September above $60,000.

According to CoinMarketCap data, Bitcoin is currently trading at $56,633, down 0.85% over the past 30 days. While future traders do not anticipate a near-term move back up to $60,000, a return to that level would erase over $584 million in short positions.

Crypto trader Daan Crypto Trades pointed out that in September, the average return for Bitcoin is about -4%, which is "not as bad as people perceive it to be" considering the cryptocurrency's volatility. The macro environment, including the Fed's actions and the US economy's performance, could challenge the ongoing narrative and potentially lead to a positive September for Bitcoin.

Source: https://cointelegraph.com/news/bitcoin-price-september-gains-may-surprise-bears

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