Bitcoin Rallies 44% in Third Quarter as Market Eyes Potential Bull Run
Bitcoin has posted a 44% gain this quarter, marking its strongest performance since late 2024, as the asset clears key technical hurdles and benefits from shifting regulatory sentiment.
Bitcoin is heading into the end of the third quarter with a 44% gain, significantly outperforming traditional assets like the S&P 500 and Nasdaq, which have each added 2%. This performance marks a reversal from earlier in the year when BTC lagged behind tech stocks.
The rally has extended beyond Bitcoin, with tokens including ETH, XRP, SOL, UNI, and NEAR recording gains ranging from 40% to 150%. While the initial move was fueled by bargain hunting and a short squeeze, recent momentum has been supported by regulatory developments.
Tagus Capital pointed to a September 17 decision by the U.S. SEC to grant a five-year innovation exemption. This allows qualifying venues to facilitate secondary trading of tokenized U.S. stocks using blockchain liquidity pools and automated market makers. Analysts suggest Ethereum may see disproportionate benefits from this shift as a leading blockchain for tokenized assets.
Bitcoin recently closed above its 50-week moving average for the first time in 45 weeks, a technical milestone that has historically preceded broader market recoveries. The price has also cleared the May high resistance line, reaching its highest point since January.
Despite the recent gains, Bitcoin remains 48% below its record high of $126,000 set in October of last year. Analysts remain cautious despite the bullish sentiment.
Alex Kuptsikevich, chief market analyst at FxPro, noted that while the current environment resembles a bull market, traders should remain alert for potential pullbacks. He advised against rushing into positions despite the optimism surrounding altcoins.
