Bitcoin Defies Headwinds to Hold August Gains
Bitcoin's August rally has come to an end, but its impact still lingers. The token traded near $78,000 on Tuesday, holding most of its roughly 25% gain from August.
This month's performance marks Bitcoin's best August since 2017 and its strongest overall since November 2024, according to LMAX Group Market Strategist Joel Kruger.
The resilience shown by Bitcoin in the face of rising oil prices and a hawkish Federal Reserve is notable, with traders watching key support levels around $75,000 and resistance at $82,000 ahead of the Fed's mid-September meeting.