Bitcoin: Closes August Up 25% in Bear Market
Bitcoin closed August up 25.1% from $62,794 to $78,545 for first green finish in bear market, fueled by $12.65B liquidations and short squeeze.
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Bitcoin closed August up 25.1% from $62,794 to $78,545, the first green August finish ever in a bear market and the third strongest August on record.
A massive short squeeze drove the move, with $12.65 billion in total liquidations including $5.8 billion from August 17-21 alone.
Price now sits at $77984.15 inside the Bollinger Bands with upper resistance at $79093.09; the neutral RSI at 46.08 and bearish MACD death cross at 27.66 point to a likely retracement toward EMA50 support at $77574.58 before further upside, sharpening BTC price prediction models and crypto market analysis around Bitcoin seasonal trends.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.
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