Bitcoin surges 43% in Q3 as Treasury yields hit highest levels since 2007

Bitcoin just posted its best third quarter since 2017. It gained approximately 43.88% between July and the end of September 2026. The celebration comes with an asterisk. US Treasury yields have climbed to levels not seen since 2007, and the Federal Reserve is hiking rates again. For an asset that pays no interest, that is an awkward neighbor to have. From $58,500 to the mid-$80,000s Bitcoin opened the quarter at around $58,500. It closed somewhere between $84,000 and $86,000. That move snapped a three-quarter losing streak and delivered Bitcoin’s strongest quarterly showing since Q1 2024. Toward the end of September, the price settled into a range of roughly $83,000 to $87,000. Demand during that stretch was supported by ETF activity and corporate purchases. The main engine was a dramatic U-turn in US spot Bitcoin ETF flows. At the end of July, those funds were sitting on outflows of roughly $5 billion. By late September, the picture had flipped to a net inflow of approximately $1 billion. Along the way, the funds logged a record single-week intake of $2.39 billion. Why do ETF flows matter so much? These funds hold actual Bitcoin on behalf of their shareholders. When money pours in...