21Shares Highlights Bitcoin’s September Test Following A 25% August Cycle Surge

TL;DR

• Bitcoin gained 25% in August after expanded Treasury bond buybacks, marking its strongest month since November 2024 and entering a cycle-bottoming window.
• U.S. spot Bitcoin ETFs absorbed $3.05 billion in August, while futures open interest and funding stayed below levels associated with crowded market euphoria.
• September’s main tests are $76,000 to $78,000 support, continued ETF inflows and $81,000 to $82,000 resistance, which 21Shares says separates recovery from a bear-market bounce.

Bitcoin’s roughly 25% August surge has pushed the market into what 21Shares describes as a decisive September test, after the U.S. Treasury’s move to at least double long-end bond buybacks helped trigger the strongest monthly gain since November 2024. The crucial question is whether August marked a genuine cycle turn or merely an unusually powerful bear-market bounce. The rally also arrived inside the historical window where prior Bitcoin bear markets have ended, strengthening the firm’s view that recent weakness may represent the late stage of the current cycle rather than a new prolonged decline.

… Continue reading the full article at the original source below.