Bitcoin Holds Near 78K After Its Best August Since 2017
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Bitcoin has just achieved an unprecedented statistical feat. For the first time in its history, the leading cryptocurrency closed August in positive territory despite trading in a bear market. This gain of nearly 25% was driven by a massive short squeeze and the accumulation of whales. The article "Bitcoin posts its best August since 2017 despite the bear market" first appeared on Cryptoast.
Bitcoin remains close to $78,000 after advancing approximately 25% in August, even as oil exceeds $90 and bets increase for an increase in Federal Reserve rates in September. Operators now observe the U.S. labor report, which could change expectations before the next monetary policy meeting.
Bitcoin stands above $78,400 after a month of August at 24%. Bets on a rate increase in September reach 64%. The Bitcoin article stands above $78,000 after its best month since November 2024 appeared first on Coin Academy
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