On the Chain: Bitcoin heads for best quarter in nearly two years despite late pullback

Bitcoin is on track for its strongest quarterly performance in almost two years, with the cryptocurrency gaining more than 40% since the end of June despite losing momentum during the final days of September.

The world’s largest cryptocurrency was recently trading at about US$83,322, up roughly 0.5% in the latest session after moving between US$82,870 and US$84,486.

Bitcoin has nevertheless retreated significantly from the eight-month high above US$87,000 reached earlier this month, as surging government bond yields and profit-taking interrupted the rally.

Even with that pullback, Bitcoin is heading for a quarterly gain of more than 40%, its best three-month performance since the fourth quarter of 2024 and its first positive quarter in a year. 

ETF flows underpin rebound

Institutional demand has played a major role in the third-quarter recovery.

US spot Bitcoin exchange-traded funds attracted about US$2.4 billion in net inflows during the week to September 25, their strongest weekly result since October 2025 and enough to push 2026 flows back into positive territory. 

Strategy has also continued accumulating Bitcoin, purchasing another 1,665 BTC for approximately US$142.7 million at an average price of US$85,681.