), and TrueUSD ."A deep dive into the data reveals a prevailing trend: by early August, the industry had begun to experience capital outflows," notes the report.
"August was the largest red monthly candle for BTC since the bear market bottom was formed in November 2022 at –11.29 percent as per Bitfinex Data."The analysis also points to the return of so-called event-based volatility, where isolated events can have a bigger impact on prices and overall market movements. In August, two isolated events had a significant impact on Bitcoin prices. On Aug. 17, a flash crash resulted in a selloff of over 11.4% for BTC.