Analysis: Bitcoin enters a seasonally weak zone, market confidence remains intact.

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According to ChainCatcher news, as reported by Cointelegraph, although Bitcoin has fallen to around $105,000 in the short-term, market sentiment remains strong. According to CoinMarketCap data, BTC's intraday fall is about 1.79%, reported at $105,560, while the Crypto Fear & Greed index remains in the "Greed" range, scoring 63, only down 1 point from the previous day. Analysts point out that although Q3 is typically the weakest quarter for the cryptocurrency market, the current market still appears optimistic. CoinGlass data shows that since 2013, the average increase of Bitcoin in Q3 has been 5.47%. If this trend continues, it is expected that the price at the end of this quarter could approach the historical high of $111,000.

BTC-2.17%
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