Bitcoin erases overnight decline, on track for 25% August gain
After falling as low as $77,000 overnight as oil surged on a fresh round of military strikes against Iran, bitcoin BTC $85,032.45 has climbed back to $79,000, about flat over the past 24 hours, and higher by nearly 2% since stocks closed on Friday.
Should bitcoin hold the $79,000 area for a few more hours, it would close August with just over a 25% gain after entering the month around $63,000. That would be its best monthly performance since November 2024, when BTC rose 37% amid the excitement surrounding Donald Trump’s election victory.
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