Historical patterns have often played an elemental role in determining the future pace of the global markets. With the recent market crash updates, investor sentiment seems to be jittering, with volatility across the space wreaking havoc.
In this wake, a new analysis outlines how global markets have always shown bearish waves of change in September and rebounded again in October.
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September And October Market Trends
September Dubbed The Worst Month For Global Trading Markets
As per the data uploaded by Lookonchain, September has long been deemed the bearish month for the crypto market.
The portal uploaded the ten-year data to back its claim, outlining how historically, September has given worse investor output than any other month in the last ten years.
At the same time, the platform streamlined how October has proven beneficial for Bitcoin, as BTC was noted to spike and stabilize in October.
“September is usually bearish, while October tends to be bullish. Historical price data shows that from 2013 to 2023, $BTC declined in September during 8 of those years (73%), and rose in October during 9 of those years (82%).”
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Ominous September for the Stock Market
Similarly, another notable market platform, The Kobeissi Letter, pointed out a similar analysis in terms of the global stock market. The platform claimed that September has also proven bearish for the world stock markets.
The platform uploaded a detailed post on X, outlining how September has historically been one of the worst months for the stock markets.
Over the last 30 years, the S&P on average has declined -2.3% in the month of September and has rallied an average of +1.6% to +3.8% in October and November.
The September Onslaught Continues
The first week of September has already proven lethal for the global stock market. The markets are bracing for further impact with the news of a possible rate cut being announced this month.
Speculation concerning the rate cuts has already started to show its effect. The crypto market is currently trading under bearish levels, with Bitcoin hovering around $58K to $59K. The S&P also shows gradual decay as the upcoming PMI data revelation plagues the market.
Crude oil prices have also fallen drastically amid the recent market chaos. The prices fell by a staggering 4.5%, with WTI crude down 19% since its April high. The recent oil declines have primarily been spurred by low demand from nations like China and the US. The Speculatory Spree also hints at how the oil market is pricing in as the global economic downturn approaches at a rapid pace.
“Oil prices just quietly fell 4.5% today and recorded their lowest daily close of 2024. WTI crude is down 19% since its April high and has erased all of its year-to-date gains. The commodity is now down 1.5% in 2024, at its lowest level since December 2023. Recent declines have been primarily driven by falling demand from the US and China. In China, the largest global oil importer, daily crude purchases fell in July to their lowest in 2 years. Are oil markets pricing in a global economic downturn?”
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