Coinbase analysts are optimistic about the crypto market’s trajectory into the fourth quarter, citing a combination of strong liquidity, a favorable macroeconomic environment, and encouraging regulatory developments. Their report suggests that Bitcoin and other major cryptocurrencies could continue to benefit from these conditions.
Historically, Bitcoin has faced challenges in September, traditionally experiencing price declines during this month from 2017 to 2022. However, the analysts point out that this pattern did not hold in 2023 and 2024, indicating that past performance may not adequately predict future trends.
Currently, large public digital asset treasuries hold significant amounts of Bitcoin, Ethereum, and Solana, which is driving demand for these larger tokens. As latecomers begin to explore altcoins, the market may enter a “player-versus-player” phase. This dynamic is expected to favor established cryptocurrencies while potentially leading to consolidation among smaller digital asset treasury players.
Despite concerns over the seasonal decline in Bitcoin’s price, Coinbase’s analysts maintain a constructive outlook, expecting that strong market support will keep the crypto rally active heading into the end of the year. The full report emphasizes that the demand from digital asset treasuries could establish a solid price foundation and that the immediate risk related to U.S. monetary policy appears to be low, barring unforeseen disruptions.
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