Bitcoin held above $84.000 through the final weekend of September, tracking toward its third-strongest third quarter since 2017 according to market data. Supported by rising spot trading volume and institutional demand, the cryptocurrency traded at $84.626,50 on Sunday morning, marking a 43,5% gain since July according to Bitcoin.com data.
Bitcoin Approaches Historic Third-Quarter Performance
The leading digital asset passed through a major quarterly options expiry on Friday without severe disruptions, keeping prices stable near the $84.000 threshold. Trading activity in spot markets increased while profit-taking remained relatively contained as the month drew to a close. Bitcoin started July near $58.500, driving a quarterly expansion that ranks behind 2017’s third-quarter surge of roughly 80%.
Institutional Custody and Capital Requirements Debate
Institutional adoption gained renewed attention as Strategy chairman Michael Saylor urged United States banks to expand their involvement in Bitcoin. Saylor called on financial institutions to offer custody services and loans backed by the cryptocurrency, arguing that current capital requirements restrict broader participation. He specifically asked regulators to reconsider the risk weighting applied to the riskiest category of crypto assets under international banking standards. He also advocated for regulatory distinctions between banks holding Bitcoin for clients, issuing asset-backed loans, and trading with proprietary capital.
Security Breaches and Ledger Limitations
Security challenges continued to impact the digital asset sector following a hack affecting Bitget. The attacker moved approximately $83 million of the stolen funds from three holding wallets by Saturday, leaving $75 million in the original accounts according to CoinDesk. Ripple noted that its native XRP ledger lacks direct freezing controls for its primary asset, though exchanges retain the ability to restrict accounts receiving illicit funds. Bitget stated that its protection fund covers user losses and customer balances remain unaffected, with scheduled withdrawals for Bitcoin set for September 28, ether on September 29, and USDT on September 30.
Mixed Trading Across Major Altcoins
Broader cryptocurrency markets showed mixed price movements during Sunday’s subdued trading session. Ether, the second-largest digital asset by market capitalization, rose to $2.704,21. XRP declined to $1,5190, while Solana gained to reach $121,11. Binance Coin (BNB) edged up to $773,70. Conversely, Cardano dropped to $0.2530, and Dogecoin declined.