Crypto Defies History in Q3, Sets Stage for Potential Fourth Quarter Surge

Bitcoin and Ethereum are defying historical trends in Q3, delivering strong performances that could set up an even more significant fourth quarter. Bitcoin's price has surged 43.5% since the start of the quarter, reaching around $84,000 from its opening price of $58,500.

Ethereum has outpaced Bitcoin, climbing 71% in Q3 and setting a new record for the strongest summer rally on record. The assets' momentum is being driven by improved spot trading volume, strengthened ETF demand, and relatively restrained profit-taking.

Bitcoin's price has held up through a large quarterly options expiry event, and it now sits above several key investor cost-basis levels that had previously capped its recovery attempts. With the next major onchain resistance level near $96,700, Bitcoin is poised to potentially reach the psychological $100,000 mark.

The quarter's performance has also been notable for the assets' ability to maintain momentum despite a historically quiet period. Q4 typically sees stronger returns for crypto than Q3, and with both Bitcoin and Ethereum entering the final stretch of September with established momentum, it remains to be seen whether buyers can continue to absorb supply.