Bitcoin Tracks First Q3 Monthly Winning Streak Since 2012

Bitcoin is on track to record its first positive July-to-September quarterly streak since 2012, based on monthly closing prices. After closing June at $58,524 following three negative quarters, Bitcoin rose 7.4% in July to finish at $62,826, followed by a 25% climb in August to close at $78,563. With one week remaining in September, the asset trades at $85,488, putting the month up 8.8%.

To secure the winning streak on September 30, Bitcoin must close above August's close of $78,563, representing an 8% buffer below current prices. September has historically been challenging for the asset, recording declines in eight of the past 13 years since 2013. The token dipped to $76,145 on September 16 around a Federal Reserve interest rate hike before recovering 12% over the following week.

The only previous July-to-September winning streak occurred in 2012, when Bitcoin rose from roughly $9 in July to $10 in August and $12 in September. In that instance, the price dropped nearly 10% to $11 in October before climbing to $13 in November, $14 in December, and eventually reaching nearly $266 by April 2013. However, that market was significantly smaller, had no exchange-traded funds, and was rebounding from a 90% crash from its 2011 high of around $32.