Bitcoin Roars Back with 24% Monthly Gain, Stocks Soar

Bitcoin had its strongest monthly gain since November 2024 in August, rising by 24%. This performance was driven by strong demand on the spot market and a significant purchase of $370 million worth of Bitcoin by MicroStrategy. In contrast, most major altcoins declined, with one exception: HYPE, which rose by 4%.

US-based Bitcoin ETFs saw nine days of inflows before experiencing a large withdrawal of $202 million. Meanwhile, US stock markets finished the month with their strongest gains since 2021, despite a weak final session and increasing oil prices.

The upcoming September Fed meeting and employment report are now being closely watched by investors, who historically see this period as challenging for equities.