The token has risen around 43.5% during the third quarter, rising from around $58,500 at the start of July
Bitcoin steadied above $84,000 on Sunday as the cryptocurrency approached the end of its second-best third quarter on record, supported by stronger spot activity and institutional demand.
Bitcoin was trading at $84,626.50 as of 05:39 GMT on Sunday, up 0.84% for the day, according to Investing.com data. The token has risen around 43.5% during the third quarter, rising from around $58,500 at the start of July.
That would make the period Bitcoin’s strongest Q3 since 2017, when it added nearly 80%, according to data cited by crypto publication Bitcoin.com. Ether has jumped around 71% this quarter, putting it on course for its strongest Q3 on record.
Bitcoin has also weathered Friday’s large quarterly options expiry without a major disruption. Spot trading activity has risen, and profit-taking has remained relatively restrained, supporting the cryptocurrency as September draws to a close.
Institutional adoption provided another focus after Strategy Chairman Michael Saylor called for U.S. banks to expand their involvement in Bitcoin.
Saylor wants banks to offer Bitcoin custody and loans backed by the cryptocurrency, arguing that existing capital requirements restrict broader participation. He specifically called for regulators to reconsider the 1,250% risk weighting applied to the riskiest category of crypto holdings under international banking standards.
He also argued that regulators should distinguish between banks holding Bitcoin for customers, lending against those assets and taking positions using their own capital.
Crypto security risks remained in focus following the $387.5 million hack of Bitget.
The attacker moved around $83 million of stolen XRP from three holding wallets by Saturday, according to CoinDesk. Nearly $75 million remained across the original accounts.
The company cannot directly freeze the stolen XRP because the XRP Ledger’s controls allowing issuers to freeze tokens do not apply to its native cryptocurrency. Exchanges can restrict accounts receiving stolen funds.
Bitget said its protection fund covers the losses and customer balances remain unaffected. Bitcoin withdrawals are scheduled to resume September 28, followed by ether withdrawals September 29 and USDT on September 30.
With only a few days remaining in September, Bitcoin’s quarterly performance has become the main weekend focus after the cryptocurrency held near $84,000 through Friday’s options expiry.
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