Analysis: Bitcoin enters a seasonally weak period, but market confidence remains intact

ChainCatcher news, according to Cointelegraph, despite Bitcoin's short-term drop to around $105,000, market sentiment remains strong. According to CoinMarketCap data, BTC's intraday decline is about 1.79%, priced at $105,560, while the Crypto Fear & Greed Index remains in the "Greed" range, scoring 63, only down 1 point from the previous day.

Analysts point out that although Q3 is typically the weakest quarter for the crypto market, the current market still appears optimistic. CoinGlass data shows that since 2013, Bitcoin's average increase in Q3 has been 5.47%. If this trend continues, the price at the end of this quarter is expected to approach the historical high of $111,000.