CoinGecko says a lot of that momentum came from the US Treasury planning to at least double its buybacks of long-term government bonds, plus steady inflows into spot Bitcoin ETFs.

These developments improved market sentiment and supported demand for digital assets, but none of this guarantees crypto prices will keep rising.

It’s also notable that the market held up well even after the US Senate failed to move the CLARITY Act forward in a September 15 procedural vote.

Declining Trading Volume Raises Questions

Despite the large increase in market capitalization, average daily crypto trading volume dropped 8.6% from the previous quarter to $73.3 billion.

CoinGecko also reports that spot trading volume on the top 10 centralized exchanges…