Bitcoin Surges to $85,490 as Q3 Ends with 42% Gain
Bitcoin's price surged above $85,490 on Wednesday, marking its strongest quarterly performance since 2024. The token has gained around 42% during Q3, with investors optimistic about cryptocurrency regulation in the United States.
The US Securities and Exchange Commission's developments have been closely watched by investors, who see a more supportive regulatory environment for digital assets as a positive sign.
Corporate demand has also remained strong, with Strategy resuming purchases of Bitcoin during Q3 and adding to its already massive holdings. This has removed additional Bitcoin from the market and reinforced the idea that it is being held as a long-term corporate treasury asset.
However, high Treasury yields and Federal Reserve interest rates pose challenges for Bitcoin in the fourth quarter. The 10-year US Treasury yield remains above 5.2%, making government bonds an attractive option for investors who can earn returns without taking on the price risk associated with digital assets.