Bitcoin-Q3-Seasonality-Will-Keep-Price-At-$100K
Bitcoin (BTC) is experiencing a lackluster week, influenced by the global money supply's 8.5% year-on-year increase amid geopolitical tensions. Fidelity's Jurrien Timmer noted that while gold prices may rise, Bitcoin's volatility presents a contrasting outlook. Both gold and Bitcoin show rising Sharpe ratios, indicating improved risk-adjusted returns, but Bitcoin's dual role as a store of value and a risk asset complicates its stability. Analyst Tony Sycamore stated that BTC behaves more like US equities than a safe-haven asset. The "digital gold" narrative for BTC is weakening, with traders focusing on short-term volatility. The Federal Reserve's steady interest rates and potential cuts could impact Bitcoin's prospects, although historical data suggests limited Q3 gains. Recent technical analysis indicates bearish momentum, with potential price declines toward $100,000 if selling pressure increases.
