Bitcoin Price Surges, Signs Point to New Bull Market Cycle

Bitcoin's price surge on August 27th saw a significant jump in value, reaching $80,249 from $79,023. This move led to $68.95 million in short liquidations and just $32.65 million in long liquidations.

Since August 17th, every trading day for BTC Spot ETFs has seen net inflows, but this streak was broken on Thursday with a reported $35.3 million in outflows, according to Farside Investors.

August has been a bullish month for crypto, but September is traditionally the most bearish month for Bitcoin.

Analyst Crypto Dan notes that the percentage of supply in profit/loss has shifted dramatically over the past ten days, with a crisscross pattern historically seen towards the end of bear markets.