Dogecoin (DOGE) fell 4.5% in the past 24 hours, leading losses among major cryptocurrencies ahead of the U.S. Labor Day holiday.
Bitcoin (BTC) opened September near $107,000, but historical trends suggest a difficult month. Over the past 12 years, September has been Bitcoin’s weakest month on average, with median losses of roughly 5% and average declines near 6%.
MicroStrategy’s slipping premium over Bitcoin has raised concerns about corporate crypto strategies. Nick Ruck, director at LVRG Research, said:
“MicroStrategy’s struggle to maintain its Bitcoin premium reflects growing skepticism around treasury models focused solely on crypto, a trend likely reinforced by September’s historically bearish performance.”
Investor attention is also on Federal Reserve signals. Expectations of potential rate cuts could ease seasonal headwinds, while fresh ETF outflows or equity selloffs could push BTC toward $100,000 support.
Other tokens also retreated: Ethereum (ETH) fell 1.7% to $4,390, Solana (SOL) dropped 3.4% to $197.60, XRP slid 4.3% to $2.72, and DOGE declined 4.2% to $0.214.
Since 2013, Bitcoin has closed September in the red eight out of twelve times, including steep drops of 19% in 2014 and 13% in 2019. Only 2015, 2016, and 2023 saw modest gains.
Seasonality, recurring asset patterns throughout the year, likely influences these trends. While equities show similar weakness, Bitcoin’s volatility amplifies the effect, keeping September closely watched by traders.
