Bitcoin Heads for Best Quarter Since Late 2024 as Regulatory Hopes Build
Bitcoin's 42% quarterly advance would mark its strongest since 2024, as investors weighed U.S. regulatory prospects and elevated Treasury yields.
Bitcoin traded at $83,275 as of 07:29 GMT Wednesday, down 0.82% over 24 hours. It remained on track for a 42% gain in the third quarter, which would be its strongest quarterly performance since the fourth quarter of 2024.
Bitcoin held near recent levels amid few direct cues for crypto markets. Optimism about U.S. regulatory approval was a key source of support, with Securities and Exchange Commission moves helping markets look past the failure of the Clarity Act.
Concerns about U.S. fiscal health and high Treasury yields also spurred some flows into alternative assets, including gold and Bitcoin. Strategy Inc., which the report called a top corporate holder of Bitcoin, resumed purchases of the cryptocurrency during the quarter.
Yields had dragged Bitcoin off eight-month highs earlier in September. The Federal Reserve raised interest rates and presented a hawkish outlook. Weak economic data and dovish commentary on Tuesday tempered the yield rally, but the 10-year Treasury yield remained above 5.2%, near a 19-year peak.
Markets were also parsing a recent pause in Treasury yields and little de-escalation in U.S.-Iran tensions.
This article was produced with the help of AI technology.
Source: Yahoo Finance
