Bitcoin broke from its usual summer pattern in August, posting a 25% return for the month and logging its third-best August ever, according to data highlighted Tuesday by André Dragosch, Bitwise’s European Head of Research.
Dragosch wrote on X that August 2026 was now in the books as the third-best August in bitcoin’s history, adding that there had been no “summer lull” so far. The only stronger August performances he cited were 2017, when bitcoin gained 65.6%, and 2013, when it rose 30.7%.
A break from the usual June-to-September weakness
Several analyses, the report said, have pointed to June through September as a stretch that tends to produce weaker average returns than the rest of the year. Through most of June and July, bitcoin’s volatility was notably subdued, and the cryptocurrency traded below $65,000.
That changed in mid-August after the U.S. Treasury Department said it would more than double the size of its government debt repurchases because fixed income markets were under pressure and yields had climbed to levels not seen in nearly 20 years.
Lower long-term yields cut the opportunity cost of holding assets that do not generate yield, such as bitcoin and gold, and they also tend to support broader risk appetite. The report said investors moved into bitcoin after that shift.
Policy headlines and ETF flows added support
More favorable headlines followed. President Donald Trump urged lawmakers to push the long-awaited crypto Clarity Act forward. The digital asset industry has for years called for clearer rules on how regulators should treat bitcoin, stablecoins, and other cryptocurrencies.
Even though a vote on the legislation was delayed, Trump described the draft as “very powerful.” He made those remarks after meeting with crypto industry leaders and chief executives, according to the report.
August also brought a strong return of investor demand for bitcoin exchange-traded funds. More than $2.8 billion flowed into the products during the month, the highest level since October, when bitcoin reached a new all-time high.
Best monthly run in three years, then a pullback
Bitcoin posted its strongest August run in three years and was up more than 20% over the past month, the article said. The asset climbed as high as $81,281 last week before sliding again on Friday.
Bitcoin was recently trading at $76,883, down nearly 3% over the previous 24 hours.
This article first appeared in Bitcoin Magazine and was written by Mathew Di Salvo.