Bitcoin Posts Strongest August in Nine Years, Sets Stage for Potential Q4 Rally
Bitcoin has just had its strongest August in nine years, according to TradingView. The cryptocurrency's performance has reversed a multi-quarter slump and is drawing comparisons to the historic price action that preceded the 2017 bull run.
The third-quarter return for Bitcoin currently stands at a robust 32.48%, putting an end to the bearish trend that dominated the first half of the year. In fact, to find a more explosive third quarter, traders have to look back to 2017 when Bitcoin registered an 80.41% gain in Q3.
The recent rally is attributed to the U.S. Treasury's decision to double its long-dated bond buybacks and the $1.92 billion in inflows recorded by U.S. spot Bitcoin ETFs, which is the largest weekly accumulation since October 2025. Additionally, short sellers were squeezed for approximately $6.55 billion during this August.
Fidelity's Jurrien Timmer believes that Bitcoin has managed to hold the floor of its power law curve and corrected long enough to satisfy the time element of its mild four-year cycle winter, indicating a bullish turnaround could be likely.