Bitcoin confirmed some signs of stirring from its September stupor late on Thursday, rising round 3% to $26,400, earlier than dropping again beneath $26,000 throughout the European morning. The CoinDesk Market Index (CMI) additionally hit its highest level this month, rising over 2% earlier than retreating. Bitcoin has principally languished beneath $26,000 this month as merchants awaited readability across the massive regulatory hotspots, such because the SEC’s resolution on the itemizing of a spot bitcoin ETF within the U.S. September is a troublesome month for bitcoin, which has posted detrimental returns yearly since 2016. To this point, 2023 appears to this point to be no exception.
