As September commences, Bitcoin has experienced a notable decline of 8.6%, marking a fresh two-week low in its price trajectory. This downturn reflects the cryptocurrency's persistent volatility, which can be influenced by a myriad of factors including market sentiment, regulatory developments, and macroeconomic conditions. The onset of September often brings about increased scrutiny on financial markets as investors reassess their portfolios post-summer and prepare for potential shifts in economic policy that may arise in the latter part of the year.
The recent drop in Bitcoin's value can be attributed to several interrelated elements. Firstly, broader economic indicators have shown signs of uncertainty, with inflation rates remaining elevated and central banks around the world considering tightening monetary policies. Such conditions typically lead investors to adopt a more cautious approach towards high-risk assets like cryptocurrencies. Additionally, regulatory concerns have resurfaced as governments contemplate stricter regulations on digital currencies to safeguard against potential fraud and market manipulation. These factors contribute to an overall bearish sentiment among traders.
Coming midway through a weekend, less liquid conditions made for a grim monthly close, with buyers unable to prevent further losses later.
Bitcoin thus finished August down 8.6%, below its average of 1.75% gains, per data from monitoring resource CoinGlass. Its figures likewise reveal that September is historically a poor month for BTC/USD, with average losses totaling 4.5%.
Crypto startup Bridge, which wants to build a global stablecoin-based payments network, recently raised $40 million in fresh funding, taking the total raised to $58 million. The startup, which was founded by Square and Coinbase alumni Zach Abrams and Sean Yu, aims to "enable companies to use a stablecoin rail without thinking about it," Abrams said in an interview with Fortune. Bridge, whose customers include SpaceX and Coinbase, aspires to become a Web3 version of payments processor Stripe, operating as a global payments system into which other developers can integrate seamlessly. Earlier this year, Stripe itself said it planned to add crypto payments through Circle's USDC stablecoin.
Crypto startup Bridge, which wants to build a global stablecoin-based payments network, recently raised $40 million in fresh funding, taking the total raised to $58 million. The startup, which was founded by Square and Coinbase alumni Zach Abrams and Sean Yu, aims to "enable companies to use a stablecoin rail without thinking about it," Abrams said in an interview with Fortune. Bridge, whose customers include SpaceX and Coinbase, aspires to become a Web3 version of payments processor Stripe, operating as a global payments system into which other developers can integrate seamlessly. Earlier this year, Stripe itself said it planned to add crypto payments through Circle's USDC stablecoin.
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