Bitcoin posts 40% quarterly gain, its best quarter since late 2024
Bitcoin jumps 40% in its best quarter since Q4 2024
Bitcoin has surged about 40% over the past quarter, its best quarterly performance since the fourth quarter of 2024. The price recently stood at nearly $83,698, up 6% over the past 30 days and roughly unchanged over 24 hours.
Most of the gains came after August 19, when the U.S. Treasury announced plans to more than double the size of its government debt repurchases. According to The Kobeissi Letter, bitcoin has risen close to 30% since that announcement.
Why the Treasury’s move helped bitcoin
The Treasury said it would try to lower bond yields, which have climbed to levels not seen since the 2000s. Lower long-term yields reduce the opportunity cost of holding assets like bitcoin and gold, which do not pay interest. That tends to support risk-on sentiment among investors.
Even though bond yields have stayed high despite the Treasury’s intervention, bitcoin investors have remained upbeat. The dollar has continued to slip, and the so-called debasement trade — buying assets to hedge against a currency losing value — has regained popularity after total U.S. debt topped $40 trillion for the first time in July.
Technical signals and market context
CryptoQuant, a market analysis firm, said in a report last week that bitcoin was back in a bull market after crossing above its 365-day moving average. The firm called this the “definitive technical signal” that marked the start of bitcoin’s bull markets in past cycles.
Bitcoin had fallen more than 50% from its all-time high of $126,080, reached in October. Despite that decline, it has experienced its shallowest bear market so far in its history, according to the report.
The price gains came even as the Federal Reserve raised interest rates and lawmakers blocked the Clarity Act, a major piece of crypto legislation.
What is confirmed
- Bitcoin rose about 40% in the latest quarter, its best since Q4 2024.
- Bitcoin gained close to 30% since August 19, when the Treasury announced its expanded debt buyback plan.
- Bitcoin’s price was nearly $83,698 on September 30, up 6% over 30 days.
- The Treasury announced plans to more than double the size of its government debt repurchases.
- Total U.S. debt topped $40 trillion for the first time in July.
- Bitcoin’s all-time high was $126,080, set in October.
What is still unclear
The article does not specify the exact date when bitcoin crossed above its 365-day moving average, nor does it give precise figures for the Treasury’s expanded buyback size. It also does not explain how long the current bull market might last.
Why this matters for crypto investors
The quarterly gain and the technical signal from CryptoQuant suggest bitcoin may be in a sustained uptrend, according to the sources. The Treasury’s debt buyback program and falling dollar appear to be supporting demand for bitcoin as a hedge against currency debasement.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.