Analysis: Bitcoin Enters Seasonally Weak Period, Market Confidence Remains Strong

According to a report by Jinse Finance, citing Cointelegraph, despite Bitcoin's short-term pullback to around $105,000, market sentiment remains strong. Data from CoinMarketCap shows that BTC has dropped about 1.79% in the past day, trading at $105,560, while the Crypto Fear & Greed Index remains in the "Greed" range with a score of 63, only one point lower than the previous day. Analysts note that although Q3 is typically the weakest quarter for the crypto market, current sentiment remains optimistic. CoinGlass data indicates that since 2013, Bitcoin's average Q3 gain has been 5.47%. If this trend continues, the price could approach its all-time high of $111,000 by the end of this quarter.