Bitcoin Maintains $107K Level as Crypto Markets Slide into Weak Month

Dogecoin (DOGE) led losses among major cryptocurrencies, falling 4.5% over the past 24 hours ahead of the U.S. Labor Day holiday.

Bitcoin (BTC) opened September near $107,000, but historical trends suggest a challenging month. Over the past 12 years, September has been Bitcoin’s weakest month on average, posting median losses of about 5% and average declines near 6%.

MicroStrategy’s premium over Bitcoin has been slipping, raising concerns about corporate crypto strategies. Nick Ruck, director at LVRG Research, said:

“MicroStrategy’s struggle to maintain its Bitcoin premium reflects broader market skepticism about treasury models heavily reliant on crypto. This could be amplified by September’s historically bearish trend.”
“The cooling appetite highlights a maturing market where structural risks and competitive pressures are prompting a reassessment of what drives long-term value beyond Bitcoin exposure,” Ruck added.

Investor focus is also on Federal Reserve policy. Expectations of potential rate cuts in September could ease seasonal pressure, while fresh ETF outflows or an equity selloff could reinforce historical weakness, potentially testing BTC’s $100,000 support level.

Other major tokens declined as well. Ethereum (ETH) fell 1.7% to $4,390, Solana (SOL) dropped 3.4% to $197.60, XRP slipped 4.3% to $2.72, and DOGE retreated 4.2% to $0.214, reversing last week’s gains.

Since 2013, Bitcoin has closed September lower in eight out of twelve years, including steep drawdowns of 19% in 2014 and 13% in 2019. Only 2015, 2016, and 2023 recorded modest gains ranging from 2–7%.

Seasonality plays a key role, as assets often show recurring patterns through the year. Contributing factors include profit-taking in April–May and the December “Santa Claus” rally. While equities experience similar seasonal dips, Bitcoin’s volatility makes these patterns more pronounced, keeping September under close watch by traders.