Bitcoin Roars Back with Strongest August in Nine Years Amid Arbitrum Upgrade

Bitcoin is on track for its strongest August in nine years, with a Q3 return currently standing at 32.48%. This is a significant turnaround from the bearish trend that dominated the first half of the year, where Bitcoin saw consecutive quarterly losses of 22.2% in Q1 and 14.09% in Q2.

The average Q3 return for Bitcoin is just 7.94%, making its current performance even more impressive. The strong showing has been attributed to several factors, including increased adoption and improved market sentiment.

Meanwhile, Arbitrum has activated its Elara upgrade, adding optional compliance filtering for custom Orbit chains and expanding the size allowed for Stylus smart contracts. Node operators must update to Nitro version 3.11.3 to support the release.