Bitcoin just did something in August that it hasn’t done in nearly a decade: it made August look good.
The largest cryptocurrency by market cap gained approximately 25-30% over the course of the month, rallying from early-August lows near $62,000-$64,000 to briefly surpass $81,000 before settling around $78,000-$79,000 by August 30. That makes it Bitcoin’s strongest August since 2017, when the asset surged roughly 65% in the same month and kicked off one of the most iconic bull runs in crypto history.
A month that usually hurts
August is historically one of Bitcoin’s worst-performing months. Since 2013, the median return for August sits at approximately negative 7%.
This year flipped that script entirely. The rally was punctuated by violent moves, most notably a single day that saw $2.75 billion in short liquidations, a record-setting cascade that forcibly closed bearish positions and accelerated the upward momentum.
