Bitcoin Down 3% as Crypto Market Weakens
Bitcoin fell 1.5% in the week through September 1, while Ether declined 1% and XRP dropped 6%. By the week ending September 29, Bitcoin and Ether had each fallen 3%, while XRP was broadly flat. Bitcoin’s year-to-date loss improved from about 12% to 4%, and Ether’s decline narrowed from roughly 19% to 10%. The latest Advisor Perspectives update still shows pressure on major cryptocurrencies, with Ether underperforming Bitcoin over the year. XRP’s recovery to a flat weekly result suggests a mixed market rather than a broad-based sell-off. Traders should monitor momentum, risk appetite and market exposure, as the different structures and risk profiles of Bitcoin and Ether may influence short- and long-term positioning.
Bearish
The combined data points to a bearish near-term price signal. Bitcoin and Ether both recorded 3% weekly losses by September 29, extending evidence of short-term selling pressure. Bitcoin’s year-to-date decline is smaller than earlier reported, but it remains negative, while Ether’s roughly 10% annual loss indicates weaker relative momentum. XRP’s move from a 6% weekly decline to a flat result shows some stabilization and reduces the evidence of a market-wide sell-off, but it does not establish a bullish trend. In the short term, traders may reduce risk or wait for confirmation before buying, particularly if volume and broader risk appetite remain weak. Over the longer term, the improved year-to-date figures could support a rebound if momentum turns positive, but the assets’ high-risk profiles and continued negative performance leave downside volatility a significant possibility.