Research Study
Q3 2025 Signals Report
A quarterly breakdown of key market metrics that could be affecting price and investor sentiment
October 16, 2025 • 60 min read
Executive Summary
Momentum across the digital assets market continued in Q3 2025, driven by evolving investor behavior, macroeconomic tailwinds, and strengthening network fundamentals. While bitcoin entered the quarter at a more measured pace, ether extended its rally—each reflecting potentially positive signals beneath the surface.
Key insights from the Fidelity Digital Assets® Research team include:
- Bitcoin’s price stabilized after a record-setting Q2. On-chain data—such as rising hash rate and address growth—suggests continued accumulation and long-term confidence.
- Ether’s rally may mark a narrative shift, with the ETH/BTC ratio reversing a multi-year downtrend and realized price movement indicating a reset in investor cost basis.
- Institutional interest remained strong, as spot bitcoin exchange-traded products saw sustained inflows and corporates disclosed new treasury allocations.
Explore how these signals could shape market dynamics in Q4 2025.
The information herein was prepared by Fidelity Digital Asset Services, LLC (“FDAS LLC”) and Fidelity Digital Assets, Ltd (“FDA LTD”), It is for informational purposes only and is not intended to constitute a recommendation, investment advice of any kind, or an offer to buy or sell any asset. Perform your own research and consult a qualified advisor to see if digital assets are an appropriate investment option.
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