Bitcoin business company NYDIG released a third-quarter Bitcoin summary report, mentioning the price decline of Bitcoin, its performance so far throughout the year, and expectations for the currency price based on ETFs and reward halving.

Bitcoin fell 11.1% in Q3

Bitcoin lost 11.1% of its value in the third quarter as numerous asset classes suffered from rising interest rates and concerns about an economic downturn.

Bitcoin remains the best-performing asset this year

Bitcoin is still up 63.3% from the beginning of 2023 to date, far outpacing the returns of any other asset class:

NYDIG still has expectations for Bitcoin ETF

NYDIG said that although all Bitcoin spot ETFs will not announce results until early next year (BlackRock Bitcoin spot ETF is postponed again! SEC rushed to postpone all of them before the U.S. government shut down?), there is another major development. Pending is the legal case between Grayscale and the SEC. Because the court required the SEC to respond to its reasons for rejecting the Grayscale Transformation ETF, the SEC has until October 13 to appeal.

On the other hand, the market’s interest in cryptocurrency ETFs may also be another problem. The dismal trading volumes of many newly approved Ethereum futures ETFs may also indicate the market’s low interest in cryptocurrency topics.

Finally, NYDIG believes that the April 2024 reward halving remains an important economic and price cycle indicator.

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