Bitcoin saw a significant price gain in August, climbing 25.1% from $62,794 to $78,545.
This marks its third-best August performance on record.
The rally was partly fueled by a major short squeeze, with $5.8 billion in liquidations between August 17-21.
On August 19, a record $2.7 billion in shorts were liquidated, while total monthly liquidations reached $12.65 billion.
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