Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K

    Bitcoin (BTC) bulls lost their grip on $27,000 into Sept. 30 as the monthly and quarterly close loomed large.

    BTC/USD 1-hour chart. Source: TradingView

    Bitcoin braces for three key candle closes

    Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print.

    The largest cryptocurrency remained up nearly 4% month-to-date, marking its most successful September since 2016, per data from monitoring resource CoinGlass.

    BTC/USD monthly returns (screenshot). Source: CoinGlass

    Conversely, the quarterly performance for Q3 showed BTC/USD down 11.5% at the time of writing.

    BTC/USD quarterly returns (screenshot). Source: CoinGlass

    For traders and analysts, everything could change in the final hours of the monthly candle.

    “In the past, a green September resulted in a green October, November and December as well,” popular trader Jelle noted in part of the day’s X analysis.

    “Will history repeat?”

    The day prior, Jelle predicted better conditions for Q4, including a breakout past $30,000 for the first time since early August.

    “Textbook bearish technicals”

    Meanwhile, Monitlonger and shorter timeframes.

    Related: Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K

    Beyond the monthly and weekly close, the impending United States government shutdown should continue to suppress BTC price action unless a solution is found in time, it added.

    “There is a high probability that killer whales will be amping up the weekend whale games around Daily, Weekly, and Monthly candle closes. Don’t get lured into a trap,” part of additional commentary from Material Indicators co-founder Keith Alan read.

    A snapshot of the BTC/USD order book on the largest global exchange Binance showed bid liquidity congregating around $26,800. Sellers meanwhile lay in wait at $27,500.

    BTC/USD order book data for Binance. Source: Material Indicators/X

    Others, such as popular trader Daan Crypto Trades, expected less volatile conditions until immediately before the new week.

    “We’ve had volatility last week but open interest has cooled down so I doubt we’ll get any strange price action until maybe later on Sunday,” he told X subscribers on the day.

    An accompanying chart showed the CME Group Bitcoin futures opening and closing prices potentially acting as a magnet for BTC spot price — a common phenomenon.

    BTC/USD annotated chart. Source: Daan Crypto Trades/X

    This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.