Bitcoin Roars Back with 43% Q3 Surge, Eyes $147,000 Target
Bitcoin's third quarter performance has been its strongest since 2024, with a 43% surge in value that surpasses gains of US stocks and gold. The cryptocurrency's rebound began in July after three consecutive quarterly declines, accelerating through August and September as institutional demand returned and sellers were absorbed at higher prices.
While traditional markets barely kept pace, Ethereum outperformed Bitcoin as the crypto rebound broadened beyond the market leader. Bitcoin's outperformance accelerated after August 19, despite a Treasury initiative to improve liquidity in longer-dated government debt failing to prevent yields from rising.
The US spot Bitcoin ETFs provided a fresh source of capital as financial conditions tightened elsewhere, moving from net outflows of $5 billion in July to inflows of about $1 billion by late September. However, analysts warn that the outlook still depends on ETF buying persisting and overhead supply being absorbed.