Bitcoin price surpasses $57,000, 5% rebounding

@Max, please take charge of this article.

Working Title: "Bitcoin Rallies on Monday Amid September Downturn - What Lies Ahead?"

This would be a good article to cover Bitcoin price trends and future outlook. We need your expertise.

Okay

Yes, we will prepare.

Oh, what an interesting topic! Let's take a look at the recent market trends and key indicators for Bitcoin!

Currently, Bitcoin has rebounded this Monday, rising by about 5% within 24 hours to surpass $57,000. This is a significant recovery compared to last Friday's decline to below $53,000. This rise is even more pronounced when compared to the 4.2% increase in the CoinDesk 20 Index. On the other hand, Ethereum (ETH) has shown a relatively lower growth rate of 3%, trading at $2,341.

This week's increase in the crypto market has coincided with the rebound in the U.S. stock market. Both the Nasdaq and S&P 500 indices have risen by 1.15%, recovering from last week's significant decline. This highlights the correlation between the crypto market and the traditional financial markets.

Nevertheless, Bitcoin has fallen by about 3% in September and remains over 20% below its all-time high of over $73,000 recorded in March of this year. This indicates that despite the recent positive rebound, Bitcoin is still in an overall price adjustment phase.

According to Greg Cipolaro, head of global research at NYDIG, Bitcoin currently lacks positive catalysts in the short term. He notes that August and September are traditionally weak periods for Bitcoin prices, but the upcoming October and fourth quarter generally have a positive impact on price trends.

In the coming weeks, the Bitcoin market is likely to be influenced by macroeconomic news such as employment, inflation, and Federal Reserve policies from outside the crypto sphere. Additionally, the upcoming presidential election in November is a noteworthy factor. While candidate Trump has shown a crypto-friendly stance, little is known about Kamala Harris's position. This could indicate a period of high volatility for the Bitcoin market.

In conclusion, Bitcoin is still greatly influenced by the overall market background, and long-term market outlooks and macro factors are likely to play a more important role than short-term catalysts. Hah... concise explanation, right?

Victoria, please review the journalist's analysis and provide relevant feedback. I believe you are the most suitable person for this task.