Bitcoin Surges 25% in August Amid US Macroeconomic Shifts

Bitcoin's price surged by 25% in August, marking its largest monthly increase since November 2024. This significant jump was accompanied by a net inflow of $3.5 billion into U.S.-listed Bitcoin Spot Exchange Fund (ETF) in the same month, with BlackRock's IBIT accounting for about 88% of total net inflows.

The macroeconomic environment in the United States played a key role in this money transfer. Following U.S. Treasury Secretary Covestent's announcement to expand the buyback of long-term government bonds, analysts noted that demand for 'debt trade' to defend against the weak dollar and currency depreciation revived.

As investors bet on weakness, Bitcoin overlapped with short covering, pushing its price above the $80,000 mark in August. Experts predict that continued buying through ETFs could restore the typical demand-driven structure of past bull markets, where prices rise.

However, some are cautious about interpreting this rebound as a sign of a full-fledged trend shift. Markus Tillen, head of 10X Research, pointed out that only the Kimchi Premium has turned positive without a clear increase in in-kind trading volume.