Bitcoin rose 2.5% in Q3 2024 despite large institutional sales and market volatility.
Bitcoin ETFs continued to grow, while Ethereum ETFs lagged in performance during Q3.
Increased correlation with U.S. equities to 0.46 shows Bitcoinâs shift toward traditional markets.
Bitcoinâs value increased by 2.5% in Q3 2024, despite large sell-offs, including government dumps and crypto bankruptcy settlements. Industry analysts suggest this resilience indicates increased market stability; however, the market experienced volatility due to institutional selling.
Despite these headwinds, Bitcoin remained the best-performing asset class in 2024, although its lead narrowed as volatility increased. The cryptocurrency market has been more volatile this year, with the VIX Index in August reaching levels seen only three times in its history. Stocks and precious metals performed well, continuing trends from 2023.
This period also saw continued interest in Bitcoin ETFs (exchange-traded funds) as Bitcoinâs price rose. BlackRock continued to add Bitcoin to its ETF offerings. However, the growth of Ethereum ETFs was slower than Bitcoin ETFs, suggeâŠ
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