Why Is the Price of Bitcoin Stagnant?

Bitcoin (BTC) has been experiencing a gradual decline throughout September, with neither bullish nor bearish traders managing to establish a definitive trend.

So far this month, BTC’s performance has not met expectations, and it appears to be heading towards typical September losses, according to data from various market analysis platforms.

The charts reveal BTC/USD’s continued struggles, including the 1-day chart alongside the 200-week moving average and the broader market context as denoted by other financial metrics.

Overall, the cryptocurrency market remains uncertain, as investors await any clear signals that might lead to a change in direction.