Bitcoin Breaks Bear Market Pattern with First-Ever Green August

Bitcoin made history in August by posting its first-ever green month during a bear market. The asset climbed nearly 25% over the course of the month, finishing at around $78,600 after starting in the low $60,000s.

This result breaks a pattern that has accompanied Bitcoin's previous bear-market phases. Ash Crypto noted that this is 'BITCOIN JUST CLOSED AUGUST GREEN FOR THE FIRST TIME EVER IN A BEAR MARKET.'

The distinction is important because it doesn't mean Bitcoin has entered a new bull market. Instead, it shows that August behaved differently from the same point in the previous three post-peak cycles.