Author: Ciaran Lyons, CoinTelegraph; Translation: Tao Zhu, Golden Finance

A cryptocurrency analyst said that since August 30th, Bitcoin has reclaimed the key price level of $60,000 for the first time, and institutional participants' interest is becoming increasingly strong, indicating that this time is unique.

Cryptocurrency analyst Rajat Soni wrote in a post on September 13th, "This time is different." Soni explained that Bitcoin has been consolidating above $50,000 for six months.

However, the last time the price of Bitcoin exceeded $50,000 was in 2021, when the interest in the asset was mainly from retail investors. He pointed out,

"The price of Bitcoin has been difficult to maintain above $50,000 because most buyers are retail investors, who are known for trading based on emotions."

Soni claimed, "Institutional investors are here, and they are ready to buy everything that retail investors want to sell." He warned his 96,900 followers, "If you want to sell, be prepared to pay more to get the same amount back."

According to CoinMarketCap, the trading price of Bitcoin is $60,596, up 4.25% since September 12th.

Bitcoin has risen by 12.40% in the past seven days. Source: CoinMarketCap

After Bitcoin broke through $60,000, anonymous crypto trader Jelle speculates that the asset might break its usual poor performance trend in September.

"Bitcoin is expected to close higher in September," Jelle wrote. The trader pointed out that Bitcoin has only achieved three "higher closing" in September: in 2015, 2016, and 2023 respectively.

CoinGlass data shows that September is the worst-performing month for Bitcoin, with the asset averaging a monthly decline of 4.49% over the past 11 years.

Meanwhile, Benjamin Cowen, the founder of Into The Cryptoverse, pointed out in an article on September 14th that this is the "highest daily closing price of BTC dominance for the entire cycle."

According to TradingView data, as of the time of writing, Bitcoin's market dominance is 57.80%.

Meanwhile, Will Clemente, co-founder of Reflexivity Research, stated in an article on September 13th, "BTC's"technical aspectsShowed some early signs of life.

Clemente added: "Expect the recovery of the 200-day moving average, which will coincide with the first higher high in the past 6 months, to start focusing on altcoins."