Bitcoin Closes Best August Since 2017 With 24% Gain Driven by ETF Inflows
Bitcoin ripped 24% higher in August, delivering its strongest monthly performance for the month in seven years. Aggressive spot ETF buying combined with cascading short liquidations pushed price action into high gear. Analysts are now watching for momentum to spill over into the final quarter.
Bitcoin capped off August with a relentless 24% rally marking its best August performance since 2017. The move broke typical seasonal weakness as persistent spot ETF inflows poured institutional liquidity directly into the order books.
Derivatives markets added fuel to the fire as cascading short liquidations forced bears to cover at higher levels. The sudden squeeze cleared out leveraged resistance, opening up fresh upside space heading into autumn.