Bitcoin (BTC) is concluding its best month in nearly two years as August ends.
Over the past month, Bitcoin’s price has risen 24% to trade at $78,000 U.S. on Aug. 31. It’s the cryptocurrency’s best monthly performance since November 2024.
It’s also the best performance for Bitcoin during the month of August since 2017.
Bitcoin appears to be holding firm on the final trading day of August even as stocks fall on news that the U.S. and Iran have resumed fighting in the Middle East.
Bitcoin’s gains in August have been achieved in the second half of the month and were sparked by two significant catalysts.
The first was U.S. President Donald Trump meeting with crypto executives at the White House and then calling on Congress to pass the Clarity Act legislation.
The Clarity Act would provide a regulatory roadmap for Bitcoin and other digital assets and is seen as necessary for the future development of cryptocurrencies.
The second catalyst has been the U.S. Treasury Department intervening in the government bond market to lower interest rates.
Lower rates are seen as positive for risk assets such as crypto.
Over the past week, Bitcoin has briefly risen above $80,000 U.S. on several occasions but fallen back to around $78,000 U.S. each time.
Despite the big gain in August, Bitcoin’s price remains well-below its all-time high of $126,000 U.S. reached in October 2025.
