*đ Bitcoin: Still the Best-Performing Asset After Weak Q3:đ*
Despite a "seasonally weak" Q3, Bitcoin remains the best-performing asset of the year, boasting a 49.2% year-to-date gain. đ Key factors behind this performance include demand from U.S. spot ETFs and increased corporate ownership by firms like MicroStrategy and Marathon Digital. The upcoming U.S. election is expected to play a significant role in market movements for Q4, with predictions suggesting a bullish period ahead. đłïžThis growth is remarkable, considering the significant sales of Bitcoin by the US and German governments, which put pressure on the market.â
Several factors contributed to Bitcoin's resilience, including:
- Increased Demand from US Spot Exchange-Traded Funds (ETFs): $4.3 billion in total flows for Q3
- Corporate Ownership: MicroStrategy, Marathon Digital, and Metaplanet have all increased their Bitcoin holdings
- Global Monetary Easing: The Federal Reserve's interest rate cuts and China's central bank stimulus measures
Looking ahead, NYDIG's research head, Greg Cipolaro, expects the US election on November 5 to impact market performance. If Donald Trump wins, Cipolaro predicts significant gains for Bitcoin. Historically, Q4 has been a bullish period for Bitcoin, and with these catalysts, it's likely to remain a top-performing asset.