Bitcoin and Ethereum posted significant gains in August. The leading cryptocurrency gained nearly twenty-five percent. The exact increase came to 24.95 percent, according to CoinGlass. The Ethereum asset rose even more sharply, by 32.53 percent. For Bitcoin, this marks its best monthly result since November 2024. Historically, August has been a rather negative month for the leading cryptocurrency. The asset has closed it in the red nine times. The worst decline, of eighteen percent, occurred in 2015. Bitcoin is currently trading at $78,722. The asset made a sharp jump in the middle of the month, after which the price consolidated within a new trading range.
The situation with Ethereum looks somewhat different over the long term. August is historically considered a neutral month for this asset. The number of positive and negative closes is perfectly balanced. The worst drawdown, of 34.8 percent, was recorded in 2018. Ethereum is currently trading at $2,473. The coin failed to establish a firm foothold above the $2,500 level. The asset also saw a sharp jump in the middle of the month. The charts of both cryptocurrencies show a similar growth pattern.
The price surge was driven by significant macroeconomic and political developments. In mid-August, a meeting between U.S. officials and representatives of the crypto industry took place, at which approval of the CLARITY framework bill was discussed. The U.S. Treasury Department also made an important decision. The department will double the volume of long-term bond buybacks starting September 9. This refers to securities with maturities of ten years or more. Officially, the move is explained by the need to improve overall market liquidity. Experts, however, see a different reason behind the actions of the American Treasury.
Authorities are seeking to contain the rise in bond yields. The U.S. national debt has already surpassed forty trillion dollars. These decisions provided a powerful boost to high-risk financial assets. Cryptocurrencies received a strong additional impulse for sustained growth.
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This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.