Bitcoin rally lifts September crypto market as alts trail
Bitcoin’s (CRYPTO:BTC) climb toward $115,000 has been enough to put the crypto market in positive territory for September.
The global market cap stands at $4 trillion, slipping less than 1% in 24 hours.
Despite 82% of the top 100 coins posting losses, September is closing with an average 2.7% monthly gain.
Excluding Bitcoin, the altcoin market is still up 0.7% for the month.
Bitcoin trades just above $114,400, while Ethereum (CRYPTO:ETH) has risen 1% to around $4,200.
Altcoins such as Cardano and Dogecoin remain weaker, highlighting Bitcoin’s dominance.
Analysts note Bitcoin increasingly behaves like digital gold in times of stress, while altcoins are sold off.
The Altcoin Season Index dropped from 77 to 58, showing a trader preference for Bitcoin or cash.
Bitcoin maintains a bullish golden cross setup, with its 50-day EMA above the 200-day line.
However, the Squeeze Momentum Indicator turned bearish, suggesting near-term weakness.
The ADX reading at 18 signals a lack of strong trend, leaving Bitcoin open to macro shocks.
RSI at 50 reflects a balanced market as traders wait for clearer signals.
Prediction market Myriad shows 74% expect short-term red candles for Bitcoin.
Traders are split on the next big move, with 53% betting on $125K and 47% on $105K.
Key Bitcoin levels: support at $109K and $106K, resistance at $116K and $120K.
Cardano (CRYPTO:ADA) trades around $0.80 with long-term structure intact but short-term pressure building.
ADA risks a “death cross” if momentum weakens further, with RSI at 40 and ADX at 22.
Key ADA levels: support at $0.75, resistance at $0.81 and $0.85.
Dogecoin (CRYPTO:DOGE) dropped 3.3% to $0.227, testing key channel support.
RSI at 43 and ADX at 17 suggest a lack of clear trend, but a rebound remains possible.
At the time of reporting, Bitcoin price was $114,225.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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