Bitcoin Rises 44% in Q3, Hits $85k Amid Regulatory Relief
Bitcoin's third-quarter performance has been impressive, rising by 44% to reach its highest level in about eight months. This surge marks its strongest quarterly return since Q4 2024, with Bitcoin recently climbing above $85,000.
The cryptocurrency's gain outpaced gold's 8.7% advance and gains of around 2% each for the S&P 500 and Nasdaq over the same period. Altcoins have also strengthened, with Ethereum (ETH), XRP, Solana (SOL), Uniswap (UNI), and Near Protocol (NEAR) gaining between 40% to 150%.
Changes in the U.S. regulatory environment were seen as a contributing factor to the recent rally. On September 17, the U.S. Securities and Exchange Commission introduced a five-year temporary exemption allowing trading platforms that meet certain requirements to trade tokenized U.S. stocks.
Alex Kuptsikevich, chief market analyst at FxPro, believes the market has entered a bull market but warns investors about the risk of a sudden price correction if they are not prepared for it.