"We noted that BTC appears to be overbought in the short term, as reflected by the heightened levels of the Greed & Fear index. Current short-term reversal signals have turned bearish, indicating that a pullback is likely over the next few days," Markus Thielen, founder of 10x Research, told CoinDesk.
Despite the current dip, Bitcoin looks set to close September up by at least 7%, breaking a historical trend of losses, which positions it strongly for October, a month typically characterized by gains.
Digital asset funds saw inflows of $1.2 billion last week, the largest total since the week ended July 19. This influx marks the third consecutive week of inflows, reflecting rising investor confidence.
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