Bitcoin's 44% gain in third quarter teases full-blown crypto bull run
Bitcoin has surged 44% in the third quarter, outperforming traditional assets like gold and the S&P 500 while signaling a potential shift toward a full-blown crypto bull market. The rally is supported by a mix of technical breakouts and a new regulatory exemption from the SEC that facilitates the trading of tokenized U.S. stocks on blockchain platforms.
Why it matters
The SEC's recent regulatory shift toward tokenized assets could bridge the gap between traditional finance and blockchain, potentially accelerating institutional adoption and market liquidity for cryptocurrencies.
As the end of the third quarter nears, bitcoin BTC $84,752.19 is standing tall some 44% higher, its best performance since the final three months of 2024.
Gold is up 8.7% while the S&P 500 has added just 2%. Meanwhile, Wall Street's tech-heavy index, Nasdaq, has gained just 2%, according to data source TradingView.
This marks a complete change from early this year when bitcoin was the underperformer and stocks, gripped by the AI fervour, were on a tear. The good news for BTC bulls doesn't end there. The cryptocurrency is also outperforming names like NVDA, one of the world's biggest companies, up 11%.
And yet, bitcoin doesn't necessarily look expensive based purely on where it trades relative to its record price. Despite the solid rally, prices are still down 48% from the record price of $126,000 in October last year.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in