Crypto Surge: Bitcoin and Ethereum Post Significant Gains in August

August was a positive month for both Bitcoin and Ethereum, as they posted significant gains. The leading cryptocurrency, Bitcoin, closed the month up nearly 25%, while Ethereum gained 32%. This marks the best monthly performance for Bitcoin since November 2024.

The surge in prices can be attributed to several events that took place mid-August. US President Donald Trump held a meeting at the White House with industry representatives, urging Congress to approve a framework bill (CLARITY). Additionally, the US Treasury decided to double its bond buybacks for maturities from 10 years to 30 years, starting September 9, 2026.

This decision was seen as necessary to boost liquidity and curb rising yields amid an increase in public debt. The move gave a boost to high-risk assets, including cryptocurrencies. Despite the escalating situation in the Middle East, Bitcoin and Ethereum barely reacted to this macro factor.