Bitcoin BTC$83,986.47 experienced a remarkable increase of 42.7% during the third quarter, marking its best quarterly performance since it surged 68.7% in the first quarter of 2024. Meanwhile, Ether ETH$2,705.81 climbed by 70.8%, its most significant gain since it skyrocketed 160.7% in the first quarter of 2021.
On the opening day of the fourth quarter, both cryptocurrencies are relatively unchanged, with Bitcoin hovering just below $84,000 and Ether slightly above $2,700.
Interest rates have taken center stage in macroeconomic discussions, as the U.S. 10-year Treasury yield reached a new 24-year high of 5.362% overnight. It has since retreated to 5.282% as bearish traders likely adjust positions in anticipation of the U.S. Nonfarm Payrolls Report for September, set to be released tomorrow.
Economists predict that the U.S. economy added 90,000 jobs last month, with the unemployment rate remaining steady at 4.1%.