Bitcoin Breaks September Curse, Crypto Market Eyes Q4 Rally
- Bitcoin (BTC) defied the historical trend and closed September with a 4% gain, breaking a seven-year streak of losses in the month.
- Other cryptocurrencies also bounced back from a bearish Q3, with Solana (SOL) leading the top 10 coins by market cap with a 24% surge in the past week.
- The crypto market is looking forward to a strong Q4, as several catalysts such as Bitcoin ETFs, DeFi growth, and NFT innovation could boost sentiment and adoption.
The cryptocurrency market ended September on a positive note, as Bitcoin (BTC) broke the curse of the month and closed with a 4% gain. This was the first time since 2016 that the leading cryptocurrency finished September in the green after suffering losses ranging from 3% to 7% in the previous six years.
Bitcoin’s performance also lifted the rest of the market, as most of the top 100 coins by market cap also recovered from a dismal Q3. According to CoinGecko, the total crypto market cap increased by 2.5% in the past 24 hours and by 5.6% in the past week, reaching $1.2 trillion today.
Among the top 10 coins, Solana (SOL) was the best performer, surging by 13.8% in the past 24 hours and by 24.2% in the past week. The high-performance blockchain platform has been attracting attention for its fast and low-cost transactions, as well as its growing ecosystem of DeFi and NFT projects.
Other notable gainers in the top 10 include Cardano (ADA), which rose by 3.4% in the past 24 hours and by 7.9% in the past week, and Dogecoin (DOGE), which increased by 1.9% in the past 24 hours and by 3.9% in the past week. Both coins have been benefiting from the support of their loyal communities and the anticipation of future developments.
On the other hand, some coins in the top 10 suffered losses in the past 24 hours, such as Binance Coin (BNB), which dropped by 0.8%, and Chainlink (LINK), which fell by 2.9%. However, both coins are still up in the past week, by 4.8% and 11.3%, respectively.
The crypto market is looking forward to a strong Q4, as several catalysts could boost the sentiment and adoption of cryptocurrencies. One of the most anticipated events is the approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), which could open the door for more institutional and retail investors to enter the space.
Another factor that could drive the market higher is the continued growth of the decentralized finance (DeFi) sector, which offers innovative and accessible financial services on the blockchain. According to DeFi Pulse, the total value locked in DeFi protocols has reached $88.5 billion today, up by 9.4% in the past week.
Moreover, the non-fungible token (NFT) industry is also showing signs of innovation and creativity, as more artists, celebrities, and brands are launching their own digital collectibles and experiences. According to NonFungible.com, the total sales volume of NFTs in the past week was $193.7 million, up by 23.4% from the previous week.
Bitcoin Price Today
According to CoinGecko, the price of Bitcoin (BTC) today is $27,517, with a 24-hour trading volume of $6,925,790,675.68. This represents a 0.66% price increase in the last 24 hours and a 1.66% price increase in the past 7 days. With a circulating supply of 20 million BTC, Bitcoin is valued at a market cap of $535,901,369,921.
Bitcoin is currently trading near its highest level since May, when it reached a record high of $64,863.10. The coin has been showing strength and resilience in the face of regulatory uncertainty, environmental concerns, and network upgrades. Bitcoin is also benefiting from the increasing adoption and recognition of its value proposition as a store of value, a medium of exchange, and a hedge against inflation.
Global Crypto Market Today
According to CoinGecko, the global cryptocurrency market cap today is $1.126 trillion, a 0.03% change in the last 24 hours and a 13.66% change one year ago. The total volume of all cryptocurrencies traded in the past 24 hours is $25,888,249,383.68, a 0.02% change in the last 24 hours and a 9.57% change one year ago.
The global crypto market is showing signs of recovery and optimism, as most of the major coins have been in the green in the past week. The market is also witnessing the emergence and growth of new and innovative projects, such as Solana, Avalanche, and Arbitrum, which are challenging the dominance and scalability of Ethereum. The market is also diversifying and expanding its use cases, such as DeFi, NFTs, gaming, and the metaverse.
| Top 3 Crypto Gainers | 24h Change | 7d Change |
| Solana | 13.76% | 24.22% |
| Render | 5.51% | 18.67% |
| Avalanche | 2.50% | 6.35% |
| Top 3 Crypto Losers | 24h Change | 7d Change |
| JUST | -8.47% | -16.62% |
| Curve DAO Token | -2.94% | -9.54% |
| Toncoin | -2.51% | -7.77% |