With the S&P 500 back at a record, Bitcoin sits below its earlier high. History shows why that gap deserves more than a simple risk-on explanation.

Strategy reported a $21 billion gain on digital assets for Q3 2026. In an update covering the week ending October 4, the company said it had acquired 334 BTC, repurchased $176 million of STRC preferred stock and held 848,000 BTC alongside $5.7 billion in USD assets.

Michael Saylor expects Bitcoin’s shrinking issuance to meet a growing market for income products before 2035, creating what he describes as a decade-long gold rush.

Fidelity’s Jurrien Timmer sees Bitcoin reaching $300,000 in 2029, with its recovery around $60,000 supporting his view that a new bullish cycle may have begun.

Crypto interest on Google is fading, according to Alphractal, yet recent Bitcoin ETF inflows show that quieter searches can coexist with substantial buying through other channels.

Cathie Wood sees Bitcoin gaining ground against gold. Its relative strength depends on more than the metal’s recent decline.

Raoul Pal sees room for Bitcoin to recover, but says dollar weakness would give him more confidence that financial conditions can support a longer crypto advance.

Citi has raised its Bitcoin target to $113,000 over twelve months. Its case for returning demand faces an early test after September’s ETF buying reversed.

Bitcoin’s push above $85,000 ended in a quick reversal. The jump came as softer-than-expected US inflation data briefly eased concerns about another Federal Reserve rate hike.

A Bitcoin trade can be right in dollars and still deliver a weaker result in euros. HANetf’s new hedged ETC brings that currency effect into focus.

Bitcoin’s latest rally is facing a caution signal: altcoin spot turnover nears four times BTC’s, a level that has coincided with some previous local highs.

Strategy added 1,665 BTC last week while repurchasing $151.7 million of STRC, using MSTR share-sale proceeds across both parts of its capital structure.