- Financial markets started Friday out on a positive note but turned negative as the day progressed and Republicans holdouts in the U.S. House rejected a bill proposed by their leader to temporarily fund the government, all but assuring that federal agencies will partially shut down beginning on Sunday.
At the market close, the S&P and Dow finished in the red, down 0.27% and 0.47%, respectively, while the Nasdaq gained 0.14%. The mixed close brought an end to a rough month of September for the markets which saw the major indexes decline between 3% and 5%. However, according to Cubic Analytics founder Caleb Franzen, Bitcoin could continue to struggle in the near term as the 200-day moving average cloud, which has been an “effective dynamic support/resistance range throughout BTC’s history,” is “threatening to act as resistance, once again.
— Rekt Capital September 29, 2023 In a follow-up post, Rekt Capital noted that the “Bitcoin Halving is in April 2024,” and said the “Next Bull Market peak could occur 518-546 days after the halving,” which means “Bitcoin could peak in mid-September 2025 or mid-October 2025.”