Bitcoin has a good setup for the new quarter – but it's still part of the broader market, which remains in a challenging macro environment.
It seems like bitcoin has a good setup for the new quarter, with major institutions signaling confidence in both the future of crypto and even in its U.S. regulators at the end of the month . Don't get too carried away though – crypto is still part of the broader market, which remains in a challenging macro environment. The third quarter is historically the weakest for bitcoin. The average third-quarter gain going back to 2014 is just 4.
Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration
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