CoinTelegraph
Bitcoin has fully retraced its gains back to the price level it held on September 30, 2024, erasing months of upside in the process. The move marks a significant round-trip for the asset, returning BTC to a point that preceded the post-election rally and the wave of institutional inflows that defined Q4 2024 and early 2025.
Why it matters
Retracements to dated price anchors carry psychological weight for market participants. September 30, 2024 sits just ahead of one of Bitcoin's most consequential rallies in recent memory, meaning holders who entered during that surge are now at or near breakeven — a zone historically associated with elevated selling pressure as latecomers exit and early buyers reassess.
Market impact
The level now functions as a key technical reference point. A sustained hold here could attract buyers who view the full retracement as a reset and a fresh entry. A breakdown below it, however, would signal that the broader macro bid that drove Q4 2024 has not merely paused but reversed. Traders will be watching volume and spot ETF flow data closely to determine which scenario is unfolding.
Benjamin Cowen
WuBlockchain
Crypto News
Crypto Capital Venture
Glassnode