September Puts Crypto Under Pressure
The cryptocurrency market opened September in the red, prompting an ironic reaction from Dogecoin co-founder Billy Markus. According to CoinGlass data cited by U.Today, around $361 million in crypto positions were liquidated over the previous 24 hours. Dogecoin fell 1.41% to $0.081, extending its weekly decline to 4.9%. After reaching $0.10 on August 22, DOGE faced profit-taking and dropped toward $0.08, pushing the token out of the crypto market’s top 10 by capitalization. Traders are also watching September’s historically weak performance: since 2013, September has been Bitcoin’s worst-performing month on average, with an average loss of about 3%. Additional pressure has come from expectations of tighter Federal Reserve policy following Kevin Warsh’s comments emphasizing elevated inflation. For xbit.money users, the combination of seasonal weakness and leveraged-position liquidations makes monitoring crypto exchange rates particularly important.