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 1-month candle chart (Bitstamp). Source: TradingView

While preserving June’s close as the macro low on the monthly chart, the performance led traders into firmly bearish territory. Among them was Crypto Tony, who warned that the stage was set for deeper losses going forward.

His outlook, he told Twitter followers on the day, saw him “leaning towards a macro drop down.”