August's Unlikely Winner: Will Bitcoin Defy Tradition in September?

Bitcoin has defied traditional market trends in August, surging by over 25% and reaching prices near $80,000.

This unexpected rally has investors rethinking Bitcoin's fortunes for September, a month that has traditionally been bearish with an average ROI of -3%.

However, according to CoinGlass statistics, the past three cycles have seen BTC close the month on a positive note, making another green September possible.

Short-term holders (STHs) seem to be deviating from this pattern, as they began taking profits during Bitcoin's rally towards $80,000, with over 60,000 BTC sent by STHs on August 20th.

Profit-taking has tapered off in recent days, and FOMO is now picking up, signaling a potential larger rally for Bitcoin in September.