Bitwise has announced that the cryptocurrency market is experiencing a “spring” phase, following one of its most successful quarters to date, as bitcoin surged by 42.31% in Q3 2026, climbing back over the $83,000 mark.
Bitcoin Recovers from June’s Lows
As per Bitwise’s Crypto Market Review for the fourth quarter of 2026, bitcoin appears to be stabilizing after dropping to a low of $59,000 in June.
This surge occurred even with the Federal Reserve raising interest rates by 25 basis points on September 16, marking its first increase since 2023.
Despite this recovery, bitcoin is still experiencing a 4.55% decline over the year.
The Bitwise 10 Large Cap Crypto Index saw a 46.39% increase during the quarter, with all ten assets reporting double-digit gains.
Investors also shifted their focus towards altcoins, leading to a drop in bitcoin’s market dominance below 60% for the first time this year.
Positive Shift in ETF Inflows
Spot bitcoin ETFs attracted approximately $6 billion in Q3, including a record $3.5 billion in August, their strongest month of 2026.
These inflows turned year-to-date net flows positive in late September, reversing the trend of significant outflows seen in the previous quarter.
Currently, U.S. spot bitcoin products manage $108 billion in assets, with $59.5 billion in net flows since their introduction in January 2024.
Corporate Adoption Continues to Rise
Publicly traded companies now own 1.29 million BTC, accounting for 6.14% of bitcoin’s total supply of 21 million.
MicroStrategy leads this group with 847,666 BTC, followed by XXI with 43,514 BTC, and Metaplanet at 43,000 BTC.
Bitwise estimates that ETFs and public companies have collectively acquired 4.1 times more bitcoin than miners have produced since the introduction of spot ETFs.
In the report, Bitwise’s Chief Investment Officer, Matt Hougan, remarked:
“Having spent nearly a decade fully immersed in the crypto industry, I’ve never witnessed such a significant level of real-world crypto adoption as I’m seeing at present.”