Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrency\u2019s performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation.<\/p>\n
During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors\u2019 alarms. The rest of the sector followed BTC\u2019s lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month.<\/p>\n
Since then, the market has seen a significant boost, mostly fueled<\/a> by the US Federal Reserve\u2019s (Fed) rate cut. Following the Fed\u2019s announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend.<\/p>\n Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report<\/a>.<\/p>\n BTC, propelled also by Kamala Harris\u2019 recent acknowledgment<\/a> of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrency\u2019s price toward the $64,000 resistance level, which was last held a month ago.<\/p>\n After failing to reclaim the key resistance level, Bitcoin\u2019s price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17.<\/p>\n BTC\u2019s recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD.<\/p>\n This performance was noted by some market watchers, who suggest<\/a> that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC \u201cis currently on track for the strongest September performance in its history\u201d after its current MTD return surpassed that of September 2016.<\/p>\n To the analyst, the flagship cryptocurrency is preparing for a \u201cpromising\u201d performance next quarter. Jelle also pointed out that BTC has only closed<\/a> September with green numbers three times.<\/p>\n However, the times this has happened, the cryptocurrency\u2019s monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4.<\/p>\n Close this month in the green, and the odds are high October, November and December will close green as well.<\/p>\n He pointed out that this week will be \u201cdecision time\u201d for the flagship cryptocurrency, as a higher high is \u201cwithin an arm\u2019s reach.\u201d A push above the $65,000 resistance level would \u201cflip the narrative\u201d and see BTC moving to levels not seen since early August.<\/p>\nWill BTC See Four Green Months In A Row?<\/h2>\n