The Bitcoin price is closing August with a 6% monthly loss, breaking a five-month winning streak as large investors shift their focus to Ethereum. Can Michael Saylor’s imminent purchase halt the BTC price dip?
By Ibrahim Ajibade
Editor Kirsten Thijssen
Updated
4 mins read
Bitcoin’s price consolidated around $108,800 on August 31, 2025, marking a 1% intraday decline and positioning the asset for a 6% monthly loss, its first red month since February.
This underwhelming performance comes after Bitcoin price surged to new all-time highs around $124,500 on August 14, before reversing as traders rotated capital toward Ethereum. In stark contrast, ETH gained 25% in August, fueled by Ethereum Strategy Reserve accumulation from firms such as Sharplink Gaming and Tom Lee’s Bitmine.
Bitcoin Monthly Returns Heatmap | Source: BitcoinROI.com | August 31, 2025
Historical returns data from BitcoinROI highlights that August has been a mixed month for BTC, with losses recorded 8 times in the last 10 years. The August rallies since 2015 have included a 73% gain in 2017 and a 17.7% increase in 2022.
The seasonal trends also show that BTC price has posted gains in September, October, and November for two consecutive years, raising hopes of a repeat performance.
More so, current macroeconomic conditions may also lean in Bitcoin’s favor. Following multiple calls from US President Donald Trump, embattled Fed Chair Jerome Powell finally delivered hawkish hints during his speech at Jackson Hole in late August.
CME Group Fed WatchTool Shows Analysts Pricing in 86% chance of a rate cut | Source: CMEGroup, August 31, 2025
In the aftermath of the hawkish Fedspeak, CME Group analysts have priced in an 86.4% chance of the US Federal Reserve’s first rate cut in 2025, during the next FOMC meeting slated for September 17. This expected boost in money supply improves the outlook for risk assets, potentially setting Bitcoin price action on a path to mirror the bullish trends of 2023 and 2024, when it recorded gains from September to October.
Bitcoin is still on Sale. pic.twitter.com/rXP6G84rbs
— Michael Saylor (@saylor) August 31, 2025
Looking ahead, Bitcoin appears to have formed a local bottom near $108,000. Strategy CEO Michael Saylor fueled speculation with another cryptic post on Sunday, hinting at fresh Bitcoin purchases. Given that volumes have fallen sharply in recent days, renewed buying from institutional players like Strategy could provide a much-needed near-term boost to liquidity and sentiment.
At first glance, Bitcoin’s technical indicators suggest consolidation near a critical support level. The Bollinger Bands show BTC trading just above the lower band at $106,529, indicating oversold conditions after the recent selloff. The MACD remains in negative territory, with the signal line still above, confirming ongoing bearish momentum and suggesting that a potential reversal could form if momentum shifts.
On the upside, the first resistance lies at the 20-day moving average around $114,384. A breakout above this zone could open the path toward $118,000, with stronger bullish continuation retesting the $122,000 upper Bollinger Band.
Bitcoin (BTC) Technical Price Analysis | Source: TradingView
On the downside, immediate support sits at $108,000, the recent local bottom. A sustained break lower could expose Bitcoin to the $106,500 Bollinger Band floor. If this level fails, traders may eye a sharper correction toward $102,000 before buyers re-emerge.
In summary, with spot trading volumes dipping 29% on Sunday and momentum indicators leaning bearish, Bitcoin price appears poised for more sideways movement in the near-term. If Saylor’s hinted purchases materialize and Fed rate cuts shouts grow louder, BTC could reestablish upward momentum in September.
With Bitcoin price consolidating around the $108,000 floor and broader market sentiment subdued, some traders are rotating into speculative tokens like Maxi Doge (MAXIDOGE), a meme-themed project offering 1000x leverage with no stop-loss.
Maxi Doge Presale
Currently priced at $0.000253, the Maxi Doge presale has raised $1.6 million of its $1.9 million goal, with only two days left before the next price increase. The project has gained traction among high-risk traders, viewing it as a counter-narrative opportunity while BTC price faces prolonged consolidation.
Investors seeking early entry can secure MAXIDOGE tokens through the official Maxi Doge site.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
