Will September End With Another Crypto Market Crash?

Crypto Market Crash Speculations Intensify as BTC, ETH Options Expire

As September nears its end, the digital asset industry is on edge, with investors watching signs of another major crypto market crash. Recent market trends have been marked by increased liquidation and price downfalls. Historical trends also suggest that September is an unfavourable month for cryptocurrencies.

Currently, the $3.74 trillion global cryptocurrency industry is down by a notable 2.29% decline. This downturn is expected to be further escalated with the upcoming expiry of Bitcoin and Ethereum options contracts. Will history repeat itself, or will it be rewritten?

Crypto Market Crash Ahead?

September has historically been a challenging month for cryptocurrencies, and this year seems to be no exception. The current performance of top tokens, including BTC and ETH, highlights the prevailing negative trend of the space. In addition, as pointed out by analyst Ash Crypto, a massive $21,000,000,000 in BTC and ETH options are supposed to expire today, which will indeed inject huge volatility, sparking another crypto market crash.

Currently, BTC is trading at $109,535, down 2.1% and 6.5% over the past day and week, respectively. At the same time, ETH is valued at $3,941, marking daily and weekly declines of 2.17% and 13.5%. Other major tokens like XRP, Solana, BNB, and Dogecoin are also experiencing massive downturns.

Adding fuel to crypto market crash speculations, massive amounts of assets are being wiped off multiple exchanges. According to liquidation data, over $969 million in cryptocurrencies were removed from major platforms over the past 24 hours. Approximately $250 mn in Bitcoin was liquidated, while Ethereum saw liquidations totaling $310 mn.

Historical Trends

Notably, Bitcoin's historical performance in September has been marked by negative returns, with an average decline of 5.16% and a median drop of 3.10%. While most Septembers have seen losses, including steep declines in 2011 and 2018, there have been exceptions like the 49% surge in 2017. Notably, recent years have bucked the trend, with positive returns in 2023 (+3.99%), 2024 (+7.11%), and 2025 (+0.82%). Often referred to as 'Redtember,' this year too, the month is expected to remain in the red.

The month has also been weak for Ethereum, with a tendency towards negative returns. Out of 11 years of data, 9 recorded losses, resulting in an average return of -10.7% and a median return of -12.7%. These figures are among the lowest across all months, highlighting its consistent weakness.