The price of Bitcoin (BTC) rose 40% in this year’s third quarter, outperforming all other asset classes, including stocks.
The largest cryptocurrency by market capitalization rose from $59,101.49 U.S. on July 1 to trade at $83,800 U.S. on Sept. 30, a 41.8% gain over three months.
Most of the gains have occurred since late August when Bitcoin broke through resistance it had encountered at $65,000 U.S. and rose as high as $86,000 U.S. in recent weeks.
Bitcoin’s third-quarter performance crushed the U.S. stock market, with the benchmark S&P 500 index having gained 2.5% between July and September of this year.
BTC has also surged higher as other asset classes have faltered, notably precious metals such as gold and silver.
After hitting a record high of $5,589.38 U.S. per ounce on Jan. 28 of this year, gold’s price has declined 25% to trade at $4,220.60 U.S. an ounce on the last trading day of September.
Analysts say that Bitcoin’s price has surged higher amid signs that the “crypto winter” that began in October 2025 has ended.
Many analysts say that investors have returned to crypto as concerns about a bubble in artificial intelligence (A.I.) stocks intensifies.
Other cryptocurrencies performed even better than Bitcoin in this year’s third quarter. Ethereum (ETH), the second biggest digital asset, has seen its price rise 73% since July 1.
Ethereum is trading at $2,725 U.S. on Sept. 30.
Market commentators say they are encouraged by the resilience shown among crypto despite growing market volatility as U.S. Treasury yields and oil prices march higher.
Bitcoin reached an all-time high of $126,000 U.S. last October before dropping to a trough of $58,000 U.S. at the end of June this year.
