- Bitcoin and Ethereum gained 24.95% and 32.53%, respectively, in August, according to CoinGlass.
- Bitcoin recorded its best monthly performance since November 2024, despite August historically being a weak month for the cryptocurrency.
- The gains came amid a shift in U.S. regulatory rhetoric and a Treasury decision to increase bond buybacks.
Bitcoin and Ethereum rose in August, gaining 24.95% and 32.53%, respectively, according to CoinGlass. For bitcoin, the increase marked its best monthly performance since November 2024.
August has historically tended to be a negative month for bitcoin, which has closed the month in the red nine times. Its worst August drawdown came in 2015, when it fell more than 18%.
Bitcoin was trading at $78,722 at the time of writing. The cryptocurrency recorded a sharp increase in the middle of the month before moving within a new trading range, according to the daily BTC/USDT chart on Binance.
Ethereum’s historical August record is evenly split between positive and negative monthly closes. Its worst August decline occurred in 2018, when it lost 34.8%, according to CoinGlass.
Ethereum also rose sharply in the middle of the month. It was trading at $2,473 at the time of writing after failing to remain above $2,500, according to the daily ETH/USDT chart on Binance.
Regulatory and Treasury developments
Several events in mid-August affected the cryptocurrency market. U.S. President Donald Trump met industry representatives at the White House and urged Congress to approve the CLARITY framework bill.
The U.S. Treasury also decided to double the volume of bond buybacks for maturities ranging from 10 to 30 years, beginning Sept. 9, 2026. The stated rationale was to increase liquidity, although experts believed the Treasury was seeking to curb rising yields as public debt exceeded $40 trillion.
The decision boosted high-risk assets, including cryptocurrencies.
At the end of August, tensions in the Middle East flared again, and Trump threatened new strikes. Bitcoin and Ethereum showed little reaction, although the conflict had previously caused volatility in those markets.
Source: Incrypted
