Bitcoin gained 25% in August 2026, its third-best August on record, according to André Dragosch, Bitwise’s European Head of Research. Only August 2017, when bitcoin returned 65.6%, and August 2013, with a 30.7% gain, were stronger. The move contrasted with historically weaker average returns from June through September and followed muted volatility in June and July, when bitcoin traded below $65,000. Momentum shifted in mid-August after the U.S. Treasury Department said it would more than double government debt repurchases as fixed-income markets came under pressure and yields rose to levels not seen in nearly 20 years. Lower long-term yields can reduce the opportunity cost of holding non-yielding assets such as bitcoin and gold, supporting broader risk appetite. President Donald Trump also urged lawmakers to pass the long-awaited crypto Clarity Act, which addresses regulatory treatment of bitcoin, stablecoins and other cryptocurrencies. Although a vote was delayed, Trump described the draft as very powerful after meeting crypto industry executives and CEOs. ETF inflows exceeded $2.8 billion in August, the highest level since October, when bitcoin reached a new all-time high. Bitcoin rose more than 20% over the past month, reached $81,281 last week and later slipped to $76,883, down nearly 3% over 24 hours.