Bitcoin Trades at $58,500 as Historically Bearish September Begins

Bitcoin wavered around the $58,000 mark amid a generally calm market on Labor Day in the US At press time, the world’s largest cryptocurrency was trading at $58,600, up about 1% in 24 hours. The broader digital asset market was up 0.9%, according to CoinDesk Indices, with ETH and SOL up about 1.9% and 0.5%, respectively. U.S.-listed exchange-traded funds (ETFs) tracking BTC reported net outflows of $175 million on Friday, extending their losing streak to four days. Ether ETFs saw no net inflows or outflows despite trading volume of $173 million, data tracked by SoSoValue shows.

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