Bitcoin's 44% gain in third quarter teases full-blown crypto bull run
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin has gained approximately 44% in the third quarter, marking its best quarterly performance since late 2024. This surge outpaces gold, the S&P 500, Nasdaq, and major companies like Nvidia. The rally was initially driven by oversold conditions and a short squeeze, with recent gains buoyed by a regulatory decision from the U.S. SEC allowing certain tokenized stock trading on blockchain platforms. Analysts indicate this may signal a bull market but advise caution due to potential volatility.
Why it matters
The source highlights bitcoin’s strong outperformance compared to traditional assets and major tech stocks, suggesting growing market momentum. The SEC’s regulatory easing on tokenized stocks is seen as a catalyst potentially benefiting Ethereum and other crypto assets. However, the source also notes analysts are cautious about the durability of the rally until clearer growth signals appear.
Key context
Earlier in the year, bitcoin significantly underperformed in comparison to stocks, particularly those driven by AI enthusiasm. The recent SEC exemption grants a temporary five-year innovation window for venues to facilitate secondary trading of tokenized U.S. stocks using blockchain-based automated market makers and liquidity pools. Ethereum is positioned to gain disproportionately due to its role as a leading public blockchain for tokenized assets.
Key numbers and entities
Bitcoin is up 44% in Q3, gold up 8.7%, S&P 500 and Nasdaq each up approximately 2%, Nvidia up 11%. Bitcoin remains 48% below its October 2023 all-time high of $126,000, with prices recently surpassing $84,000. The SEC’s regulatory decision referenced was issued on September 17. Other tokens like ETH, XRP, SOL, UNI, and NEAR have posted gains between 40% and 150%. Analysts mentioned include Alex Kuptsikevich of FxPro and the firm Tagus Capital.
What remains unclear
The source does not specify the exact conditions or criteria for venues qualifying for the SEC’s tokenized stock exemption. The durability and broader market impact of the current crypto rally and regulatory changes remain uncertain. No detailed explanation is given on how the regulatory decision will affect individual crypto exchanges or user experiences.