BTC price sees new $20K showdown — 5 things to know in Bitcoin this week

[Jaya60]

Old all-time highs from 2017 come back to haunt Bitcoin as BTC price action fails to see relief this "Septembear."Bitcoin (BTC) starts the second week of September still trying to cement $20,000 as support as bears clinch control.

The largest cryptocurrency emerges from a sideways weekend with a weekly close almost exactly at the $20,000 mark — but that significant psychological level is already struggling.

Expectations already favored further downside during this month — the so-called “Septembear” phenomenon which normally sees BTC price lose ground in September — and so far, there has been little evidence that this year will be different to most.

BTC/USD is down 1.5% in September 2022, and while the losses are modest, there are plenty of potential catalysts on the horizon.

Macroeconomic turmoil remains the name of the game in much of the world, the emphasis increasingly shifting to Europe as the energy crisis unfolds and the euro reaches twenty-year lows versus the U.S. dollar.more info