Bitcoin has recorded a 40% price increase over the past quarter, marking its strongest quarterly performance since Q4 2024. The asset recently traded at nearly $83 698, reflecting a 6% gain over the last 30 days.
Market analysts attribute the growth to the US Treasury's decision to expand its government debt repurchase program. Since August 19, when the plan was announced, the price of bitcoin has risen by approximately 30%.
The cryptocurrency continues to perform well despite high bond yields and the total US national debt exceeding $40 trillion in July. Investors are increasingly using bitcoin as a hedge against currency debasement.
Following a decline of over 50% from its all-time high of $126 080 in October, bitcoin has entered a new bull market phase. According to CryptoQuant, the price has successfully crossed its 365-day moving average.
