Bitcoin Surges 44% in Q3, Outpacing Stocks and Gold
Bitcoin's third-quarter performance has been its strongest since the final three months of 2024, with a 44% gain. This surpasses the S&P 500 and Nasdaq, which have gained only 2%, while gold is up 8.7%. The cryptocurrency is still trading 48% below its October 2025 record of $126,000.
Other cryptocurrencies, such as Ethereum (ETH), XRP, SOL, UNI, and NEAR, have also seen significant gains, ranging from 40% to 150%. Analysts describe the market as bullish with improved altcoin optimism, but warn of volatility and possible sharp pullbacks despite regulatory-driven momentum.
The U.S. SEC's September 17 temporary five-year innovation exemption for qualifying venues to facilitate secondary trading of tokenized U.S. stocks using automated market makers and blockchain liquidity pools is seen as a key driver of the rally. This has bolstered crypto sentiment, especially for Ethereum, which is expected to benefit disproportionately.
Alex Kuptsikevich, chief market analyst at FxPro, says the market is already in a bull phase, but warns against rushing into purchases too quickly and advises added caution until clearer signals of sustained active growth appear. He notes that optimism around altcoins is improving bitcoin's outlook, while also warning investors against sudden pullbacks.