Cryptocurrencies were largely down on Friday, September 1 as major caps slid amid a surprising decline likely fueled by latest delays for spot Bitcoin ETFs. Bitcoin (which has retested levels under $26k) and Ethereum (prices have dipped under $1.7k) lead the 24 hour rot. Most top 20 coins are in the red. CoinGecko data also shows the global crypto market cap has dropped by 3.4% at the time of writing.Analysts say the crypto market could be in for yet another rough September. According to crypto analyst Will Clemente, historical data shows crypto is on a six-year streak of negative returns during this month. Overall, no other month has had as few green monthly candles as September has for Bitcoin price.According to Santiment, Bitcoin’s nearly 5% slip in the past 24 hours has the top crypto “right back where it started prior to the Grayscale news” that catalysed the broader crypto market. The upside that followed the court decision could now be more of a ““buy the rumour, sell the news” event. Stock-to-flow model creator PlanB points to the fact that Bitcoin has to shake off “all tourists and weak hands before take-off.”Crypto prices traded lower on Friday as Bitcoin retested the $26k area. Declines across major altcoins added to the forecast of a “bumpy” ride in historically negative September. Bitcoin was trading near $26,000 after testing lows of $25,683, with the price range of $25,600-$26,600 a key zone. Both bulls and bears are eyeing control here and a flip lower is likely if we have a “Sept-repeat”. Analysts are forecasting a return to upside momentum in mid-October, depending on the potential for a SEC decision on the multiple ETF applications it delayed on Thursday.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	Will Clemente, PlanB, Santiment
Companies	Grayscale, SEC, CoinGecko, PlanB, Santiment
Currencies	Ethereum, Bitcoin
Securities	None