Bitcoin closed out its best quarter since 2024, rising 42.7% in Q3, and now trades flat near $84,000 as Q4 opens. Ether posted an even steeper 70.8% quarterly gain, while the 10-year Treasury yield's overnight push to a 24-year high is keeping traders cautious ahead of Friday's jobs report.
Bitcoin rose 42.7% in the third quarter, its best quarterly performance since it jumped 68.7% in the first quarter of 2024. Ether matched the momentum, climbing 70.8% over the same period, its strongest result since soaring 160.7% in the first quarter of 2021.
Both cryptocurrencies are about flat on the first day of the fourth quarter. Bitcoin sits just under $84,000, while ether trades just above $2,700.
Interest rates have become the big macro story. The U.S. 10-year Treasury yield touched a fresh 24-year high overnight at 5.362%, then pulled back to 5.282% as bearish traders likely hedge bets ahead of the U.S. Nonfarm Payrolls report for September, due tomorrow. Economists forecast the U.S. added 90,000 jobs last month, with the unemployment rate holding at 4.1%.
Source: CoinDesk (snippet-based)
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