Bitcoin price is back trading above $112,000 after slipping as low as $107,271 last week. That bounce has brought some relief to traders, but not everyone thinks the worst is over.
In fact, a few well-known analysts are warning that September could still bring trouble before Bitcoin finds its footing for a bigger rally later this year.
What you'll learn 👉
Why September Has Traders Nervous
Benjamin Cowen, CEO of ITC Crypto, is one of the voices urging caution. He reminded his followers that in post-halving years, September tends to be a weak month for Bitcoin.
The reason? Bitcoin price often drops back to test its 20-week simple moving average (SMA) before bouncing into the final quarter of the year.
He pointed out that this pattern played out in 2017 and again in 2021, when Bitcoin lost around 7% in September. Even back in 2013, Bitcoin ended the month in the red.
For Cowen, the current pullback isn’t out of the ordinary, it’s just history repeating itself.
Post-Halving Cycles Point to Strong September Pullback Before Q4 Rally.🧵🧵🧵 pic.twitter.com/jnDox2za5D
— TheCryptoBasic (@thecryptobasic) September 3, 2025
Why 2025 Could Be Different
But not everyone agrees with that take. Vinicius Bazan, CEO of Underblock, thinks this year might not follow the usual script. Normally, Bitcoin rallies in August and then cools off in September.
But in 2025, August actually closed down by more than 6%. Bazan argues that this twist could mean September plays out differently, maybe even giving us a relief rally instead of another drop.
He compared it to 2017 and 2021, when Bitcoin price had strong August gains that set up September corrections. This time, the reverse happened, weakness in August could set up strength in September.
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Is the Low Already In?
Chetan Kaul added another perspective, suggesting that Bitcoin price might have already seen its September low at $107,271.
Since then, price action has been holding steady, and Kaul believes we may not see further breakdowns. If that’s true, Bitcoin could be setting up for a stronger month than many expect.
No matter how September plays out, most analysts agree on one thing: Bitcoin’s long-term path still looks bullish. Whether there’s one more dip or not, many expect Q4 to deliver the kind of upside move that often defines post-halving years.
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