Bitcoin is set to close August with more than 24% ROI, marking its best monthly performance since the 2017 cycle. More than $9.71 billion was liquidated from the crypto market over the past two weeks, including $6.55 billion in short positions, representing about two-thirds of total liquidations. Funding rates on Binance increased by more than 42% in less than a week while BTC consolidates below the $80,000 level. However, Bitcoin ETFs saw over $201 million in net outflows on August 28th, ending a 9-day inflow streak. This dynamics suggests the recent bullish move may have been driven primarily by a short squeeze rather than strong spot demand, pointing to a potentially bearish September.
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