August 2026 was crypto’s best month of the year, with Bitcoin gaining 24.5% and the top-100 altcoins rising 26.5%. DeFi lending also surged, with active loans growing from $20.1B in June to $26.1B in August, a 30% increase, with Aave alone accounting for $12.5B. Despite Bitcoin’s swift rally from $63K to $81.5K in just two weeks, long-term holders aggressively sold their positions, with profit-taking spiking twice in a single week. U.S. demand proved fleeting, funding rates hit a yearly high, signaling heavy leverage usage, making this rally more fragile than it appears.
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