Bitcoin rose 25.1% in August, climbing from $62,794 to $78,545 and recording its third-best August performance. The rally was fueled partly by a major short squeeze, with $5.8 billion in liquidations from August 17-21. August 19 saw a record $2.7 billion in short liquidations, while total monthly liquidations reached $12.65 billion. Bitcoin also closed July and August higher, a pattern historically followed by weaker September performance.
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