After a strong start, Bitcoin (BTC) has dropped again, raising concerns as it struggles around $60K, down from its recent high of $73,750. Historical data shows that September is typically a poor month for BTC, with losses nearly every year since 2013, except for 2023. This pattern adds to the anxiety among investors, especially with recent market volatility.

Several factors contributed to the latest downturn, including a 112% jump in NVIDIA's earnings report and fears over upcoming US inflation data. These events, along with other market shocks, led to a significant sell-off and a decline from $64.4K to $58K.

Despite the bearish trends, there is hope for a turnaround. Interest rate cuts in September could boost BTC prices, and last year, BTC saw positive returns despite initial losses. If BTC can break the resistance at $62,727, analysts suggest an uptrend could follow, offering a potential buying opportunity.