Bitcoin price dips 14% in August as trader warns of ‘macro drop down’

Bitcoin price dips 14% in August as trader warns of ‘macro drop down’

Bitcoin (BTC) has sealed its worst August performance since 2015 after the monthly candle closed down 13.9%.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Weekly candle “doesn’t look good”

Data from Cointelegraph Markets Pro and TradingView confirms that BTC/USD finished the month at $19,990.

A knock to bulls’ efforts to stabilize spot price, the August close was only the second monthly candle finish below the $20,000 mark (depending on the exchange used) since late 2020.

BTC/USD…

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