Morning Minute: Bitcoin Enters ‘Rektember’ After Best August Since 2017
Bitcoin had its strongest August since 2017, rising 25%, but September has started badly with BTC below $77k. September is historically Bitcoin’s weakest month on average, though the last three Septembers were positive. Macro pressure is rising: higher inflation concerns, surging sovereign yields, a 4.784% US 10-year, and markets pricing a 66% chance of a September 16 Fed hike. Ongoing US-Iran strikes also pushed oil to $88, adding to inflation and tightening financial conditions. These forces typically strengthen the dollar and weigh on risk assets like Bitcoin and gold. The main question is whether ETF inflows, corporate treasury demand, and broader onchain crypto strength can offset the macro headwinds. The September 16 FOMC meeting may set the tone for the rest of the year.
