As of today, September 2, 2024, the crypto market is experiencing notable volatility. Bitcoin (BTC), which finished August with an 8.6% loss, started September on a weak note, dropping over 2% in an “out of hours” trading session on September 1.

This downturn was exacerbated by low liquidity conditions over the weekend, leading to a monthly close that failed to protect key support levels.

Events Impacting the Crypto Market:

1. Bitcoin's Struggles: Historically, September has been a challenging month for Bitcoin, with an average loss of 4.5% observed in past years. Currently, Bitcoin is facing crucial support levels around $55,000 to $56,000. If these levels do not hold, Bitcoin could further drop towards $51,000.

2. Token Unlock Events: Several altcoins, including IMX and TAIKO, are facing significant token unlock events this September, totaling over $2 billion in value. Such unlocks can lead to increased selling pressure as holders might decide to liquidate their positions, potentially impacting the broader market sentiment​

3. Upcoming Major Events: The crypto market is also bracing for several significant events in September, such as the Korean Blockchain Week, US Non-Farm Payroll data, and a US Presidential Debate. These events are expected to influence investor sentiment and market conditions, potentially leading to heightened volatility

Events Impacting the Crypto Market:

• New Listings and Predictions: $BLASTUP, a recently launched token on MEXC and Bitget, is gaining attention due to its potential for high returns, with some analysts predicting a possible 1000% surge by year-end. This increased exposure could attract more investors, contributing to the overall market activity.

• Altcoin Performance: TRON (TRX) is showing strong upward momentum, gaining 21% over the past month. However, it is approaching resistance levels that could either lead to further gains or a pullback, depending on market conditions. On the other hand, Solana (SOL) has been struggling, facing a downward trend with a potential for recovery if key resistance levels are breached.

Outlook for the Crypto Market Post:

Looking ahead, the crypto market is expected to remain volatile with potential price swings influenced by both technical factors and external events.

If Bitcoin fails to maintain its critical support levels, it could drag down the broader market. However, a strong performance in upcoming major events and new project launches could provide some bullish momentum.

Investors should remain cautious and stay updated on market developments, as both upside and downside risks are significant​.