Previous article
Bitcoin stabilizes above $84,000
Сryptocurrency
Bitcoin held above the $84,000 mark on Sunday, nearing the end of its second-strongest third quarter in history, driven by active spot trading and institutional demand.
As of 8:39 a.m. on Sunday, Bitcoin was trading at $84,626.50, up 0.84% for the day. Over the third quarter, the token has risen approximately 43.5%, climbing from around $58,500 in early July.
This makes the current period Bitcoin's best third quarter since 2017, when it surged by roughly 80%. Ether gained about 71% this quarter, potentially marking a record third quarter for the cryptocurrency.
Bitcoin also weathered a major quarterly options expiration on Friday without significant volatility. Spot trading activity has increased while profit-taking remains relatively subdued, providing support for the cryptocurrency as September draws to a close.
Institutional adoption has also become a key topic of discussion: MicroStrategy Chairman Michael Saylor has urged U.S. banks to expand their involvement in the Bitcoin space.
Saylor advocates for banks to offer Bitcoin custody services and loans backed by the asset, arguing that current capital requirements limit broader participation. Specifically, he called on regulators to revisit the 1,250% risk-weighting applied to the riskiest category of crypto assets under international banking standards. He also stated that regulators should distinguish between situations where banks hold Bitcoin for clients, lend against these assets, or open positions using their own capital.
Security risks in the crypto space remain a key focus following the $387.5 million hack of Bitget.
According to CoinDesk, by Saturday, the attacker had moved approximately $83 million worth of stolen XRP from three storage wallets. About $75 million remained in the original accounts.
Ripple cannot directly freeze the stolen XRP because the XRP Ledger control mechanisms that allow issuers to freeze tokens do not apply to the network's native cryptocurrency. Exchanges, however, can restrict accounts receiving the stolen funds.
Bitget stated that its protection fund covers the losses and client balances remain unaffected. Bitcoin withdrawals are scheduled for September 28, Ether withdrawals for September 29, and USDT withdrawals for September 30.
With only a few days left in September, Bitcoin's quarterly performance became a major topic over the weekend—especially since the cryptocurrency held steady near the $84,000 mark during Friday's options expiration.
Cryptocurrency prices today: altcoins show mixed performance
The crypto market saw mixed movement on Sunday, according to the latest market snapshot.
Ether, the second-largest cryptocurrency by market cap, rose 0.66% to $2,704.21.
XRP, the third-largest cryptocurrency by market cap, fell 2.02% to $1.5190. Solana rose 0.49% to $121.11, while BNB gained 0.09% to $773.70.
Cardano fell 0.78% to $0.2530, while Dogecoin declined 1.19%.