Bitcoin · Federal Reserve (FED) · U.S. Treasury · CoinDesk
Bitcoin enters ‘Rektember’ as rate-hike risk combines with seasonality to threaten rally
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Bitcoin has begun September slightly lower, falling 1% to below $78,000 as it enters what is commonly referred to as “Rektember.” Since 2013, September has been bitcoin’s worst-performing month on average, producing a loss of around 3% and only producing five positive monthly returns.
Key facts
- Meanwhile, continuing U.S. strikes against Iran have added to further instability in the Middle East and pushed WTI crude oil to $88 a barrel, up 2% over the past 24 hours, its highest level
- Bitcoin has begun September slightly lower, falling 1% to below $78,000 as it enters what is commonly referred to as “Rektember
- Markets are now pricing in a 66% probability of a 25-basis-point rate hike at the Fed’s Sept. 16 meeting, followed by another potential rate boost by the end of the year
- Many sovereign yields have reached new cycle highs, with the U.S. 10-year Treasury yield rising to 4.784%
Summary
September has produced an average bitcoin decline of around 3% since 2013, giving it the name “Rektember.” Markets are pricing in a 66% chance of a September Fed rate hike, giving a more fundamental reason for weakness this year. However, the past three Septembers have all delivered gains, offering some encouragement to bitcoin bulls. The macro backdrop also presents significant headwinds.