Bitcoin Breaks Bear Market Pattern with First-Ever Green August

Bitcoin has made history by closing August in the green for the first time ever during a bear market. This unprecedented result snapped a run of four consecutive August losses, including two double-digit hits in 2022 and 2023.

The cryptocurrency's latest monthly gain of nearly 25% also broke a pattern that has accompanied Bitcoin's previous bear-market phases. According to Ash Crypto's chart, based on Bitstamp data and using a logarithmic scale, the August performances after Bitcoin's major cycle highs have historically been negative.

In contrast, this year's August saw Bitcoin start in the low $60,000s and climb above $81,000 before finishing at about $78,600. This marked its best August since 2017, when it closed up more than 65%.