Bitcoin Posts Strongest August Since 2017, Faces Key Resistance Test

Bitcoin ended August on a high note, posting its strongest performance since 2017. The cryptocurrency gained approximately 24% in value during the month, reaching as high as $78,400 before losing momentum near $80,000.

The rally reversed much of the pressure recorded during the first half of 2026, when Bitcoin fell to around $63,000. While the final monthly return remains subject to the cryptocurrency's closing price, current historical data places August 2026 well ahead of every August since the 2017 bull market.

Derivatives positioning played a significant role in the move, with approximately $9.71 billion in cryptocurrency liquidations across two weeks. Short positions accounted for $6.55 billion, while long liquidations reached $3.16 billion.

The rally was also driven by ETF inflows, which attracted approximately $1.92 billion during the five trading sessions through Aug. 21. This marked their strongest weekly inflow since October 2025.