Market Pullback: The August Blues in Crypto
August is here, and crypto traders are feeling cautious. Historically, August has been one of the worst months for Bitcoin, with an average loss of about 8%. This pattern repeats almost every year, so many traders watch August closely.
Right now, the crypto market is pulling back after recent gains. This isn’t unusual—crypto often cools off in summer, just like traditional markets, but with more ups and downs.
What’s interesting this time is that smaller altcoins are losing value compared to Ethereum. When traders get nervous, they often move money into Ethereum, which is seen as safer.
This pullback looks like a normal pause, not a big crash. Usually, a “correction” means a drop of 10% or more, and we’re not there yet. It’s likely just a healthy break before the market moves again.