Bitcoin Hovers Around $107K as Weakest Month for Crypto Begins

Bitcoin (BTC) enters September trading near $107,000, but history isn’t on its side. The month has been the weakest for BTC on average, with a median decline of approximately 5% and an average loss of around 6% over the past 12 years of market data. Some point out MicroStrategy’s premium over Bitcoin is slipping at the same time September’s seasonal weakness looms. Nick Ruck of LVRG Research warns this reflects deeper doubts about the company’s treasury-heavy strategy. “MicroStrategy's recent struggle to maintain its Bitcoin premium reflects a broader market shift where investors are questioning the sustainability of corporate treasury models focused solely on crypto accumulation, a dynamic that could be exacerbated by September's historically bearish trend for crypto assets,” Nick Ruck, director at LVRG Research. “This cooling appetite underscores a maturation in crypto markets, where structural vulnerabilities and competition are forcing a reevaluation of what truly drives long-term value beyond mere Bitcoin proxies,” Ruck added. With Fed rate-cut bets building into September, a dovish turn could soften the seasonal drag. Conversely, fresh ETF outflows or another equity selloff could reinforce…