Bitcoin Breaks Bear Market Pattern With Historic Green August

Bitcoin made history in August by posting its first-ever green month during a bear market. The cryptocurrency's performance marked a significant departure from previous post-peak years, including 2014, 2018, and 2022.

Ash Crypto pointed out that the latest close breaks a pattern that has accompanied Bitcoin's previous bear-market phases. According to Ash Crypto's chart, August 2014 fell about 18% after the 2013 peak, while August 2018 lost roughly 9% after the 2017 peak and August 2022 dropped some 14% following the 2021 high.

However, this year was different. Bitcoin started the month in the low $60,000s and climbed above $81,000 before finishing at about $78,600, producing a monthly gain of 24.95%, according to CoinGlass data.