Bitcoin’s Q3 Underperformance Looms as Ethereum ‘Catch-Up’ Takes Center Stage

Analyst expectations for Bitcoin to hit new highs may be dampening its immediate performance, as the cryptocurrency’s price action shows a pattern of frustration before potential bullish surges. According to Santiment analyst Brian Quinlivan, social media sentiment indicates anticipation for another Bitcoin rally, but this momentum may not translate into immediate gains. 2023 Q3 is historically seen as the weakest period for Bitcoin, likely underperforming compared to the following quarter. Analysts point to macroeconomic uncertainty and a lack of rate cuts from the Fed as contributing factors to this prediction.