Bitcoin opened September on weaker footing after posting a 25% gain in August, its strongest monthly rise since November 2024 and its best August performance since 2017, according to Decrypt’s Morning Minute newsletter by Tyler Warner. The piece says BTC fell below $77,000 as broader risk markets softened, with oil prices and sovereign bond yields climbing. Warner notes that September has historically been Bitcoin’s weakest month on average since 2013, though the last three Septembers have still finished in positive territory. The newsletter ties current pressure to macro developments. Fed Chair Kevin Warsh emphasized elevated inflation in his Jackson Hole speech on Friday, while the U.S. 10-year Treasury yield rose to 4.784% and markets priced in a 66% chance of a 25-basis-point hike at the September 16 meeting. WTI crude also moved to $88 a barrel, up 2% on the day and its highest level since late July, after continued U.S. strikes against Iran. Beyond Bitcoin, the update covers $237 million in net outflows from spot Bitcoin ETFs on Tuesday versus $8.6 million in inflows to Ethereum ETFs, an SEC proposal that would let blockchains function as official ownership records for transfer agents, plans by 21 banks and asset managers to form a stablecoin company in 2026, and fresh activity across Robinhood Chain, meme coins, token launches, and NFTs.

Market analysts are turning bearish on Bitcoin, arguing that the move above $79,000 may have been a bull trap rather than a true trend reversal. Some now warn BTC could still fall toward the $40,000 region as the broader bear cycle may not be over.