Bitcoin is testing a crucial support level, and whether September’s downturn signals a big change is the big question. Historically, September dips have often been followed by strong rallies in the fourth quarter, making this a make-or-break moment for Bitcoin’s price.
Bitcoin Hits Bull Market Support
Analyst Benjamin Cowen recently pointed out that Bitcoin briefly touched a key support level just before September. This level has historically been a turning point, where buyers often step in to prevent a bigger drop. Staying above this level is crucial for keeping the positive market sentiment going. Cowen also noted that August saw a price peak, suggesting September might see a price trough – a common pattern in Bitcoin’s price movements, especially during transitions. He highlighted that Bitcoin’s price dipped below August’s lowest point early in September, showing how quickly things can change in the crypto market. Ideally, Bitcoin’s monthly low was already hit on September 1st, allowing for a quicker recovery and strengthening the market structure.
Past Performance Suggests Q4 Potential
Cowen’s analysis suggests that if Bitcoin can hold steady around its 20-week Simple Moving Average (SMA) throughout September, that’s a good sign. Looking back at previous bull markets (2013, 2017, 2020, and 2021), Bitcoin successfully held this level before surging higher in Q4. If it doesn’t hold the 20-week SMA, the 50-week SMA becomes the next key support level to watch. This has consistently acted as a strong floor during this bull market.
Current Market Snapshot (September 3, 2025)
As of September 3rd, 2025, Bitcoin was trading around $111,053, showing moderate volatility. Trading volume was healthy, and its market cap remained strong, confirming its leading position in the crypto market.
