Illustration of a gold Bitcoin, Ethereum, and a shield

2026 Q3 market review · Understand the rally before you decide

As crypto prices rise,
security incidents sound
a warning about asset custody.

Crypto security incidents remind every investor: invest with discipline and take care of your assets.
Understand what drove the rally, recognize the risks of high leverage, and learn how to protect your crypto.

Historical period: 2026.07—09 · Not live prices or a return forecast

Third quarter of 2026July — September
ETH Ethereum / approx.+70%
BTC Bitcoin / approx.+42%
Approximate return gap28percentage points
Historical data, not live prices

A higher return does not mean better liquidity. A rising price does not make an asset safer.

01 / MARKET INSIGHT

What drove
this rally?

First look at what happened, then assess what it means.
Below, we distinguish published data, research interpretations, and risk analysis.

01
Capital flows · Published data

ETF inflows added new demand

In Q3 2026, U.S. spot ETH ETFs recorded approximately US$3.1bn in net inflows, and spot BTC ETFs approximately US$7bn. CoinGecko identified ETH inflows as an important backdrop to the rally.

Analysis Inflows can support demand, but do not by themselves establish a fair valuation or imply another rally next quarter.

02
Policy expectations · Research interpretation

Bond buyback news shifted expectations

In August, the U.S. Treasury announced higher limits for some longer-dated Treasury buyback operations. CoinGecko linked the announcement to an acceleration in the August rebound; markets reassess risk assets as policy expectations change.

Analysis Buyback plans are not interest-rate cuts. An announcement coinciding with a rally does not establish precisely how much of the gain the news caused.

03
Market structure · How volatility works

Thinner order books make prices easier to move

CoinDesk reported that ETH outperformed BTC while its market depth weakened relative to BTC. With thinner order books, the same-sized trade can move prices more sharply.

Analysis Liquidity can amplify moves in either direction. Thin liquidity can magnify gains, drawdowns, and slippage when selling.

Returns are an outcome. Sound decisions also assess market quality.

CoinGecko also recorded an 8.6% quarter-on-quarter decline in average daily trading volume in Q3. Higher prices do not imply a broad recovery in participation, and the available evidence cannot precisely attribute the gains to individual factors.

Next: participating with discipline

02 / INVEST WITH DISCIPLINE Make considered decisions

The hotter the market,
the more risk matters.

From a risk-management perspective, first decide what you can afford to lose, then whether to participate.
Missing a rally is no reason to rush into a trade or increase your exposure.

01

Beginners should avoid high leverage

Avoid leveraged contracts until you understand margin, liquidation, funding rates, and slippage. Even if the market eventually rises, a drawdown along the way can liquidate your position.

02

Set your loss limit before you decide

Do not borrow to invest or use living expenses or emergency funds. Write down your investment rationale, acceptable loss, and exit conditions. If volatility is affecting daily life, reassess your position size.

03

Compare risks, not just returns

Also check market depth, concentration, and how easily you could exit. A coin that rose faster in the past is not automatically a better purchase. Stop-loss orders do not guarantee your intended execution price during sharp volatility.

A practical analysis framework

Break your decision into three questions: What supports the rally? Can you afford the loss? How will you hold the assets? This is editorial analysis based on public information, not entry or exit recommendations for individual coins.

NEXT / From investment decisions to asset protection

You understand the rally.
Do you know how to protect your assets?

As crypto prices rise, security risks can quietly emerge.
Beyond market risk, assess platforms, devices, recovery phrases, and signing requests separately.

Explore theft incidents and security risks

03 / SECURITY INVESTIGATION Real incidents

Learn from theft incidents. Recognize security blind spots.

Even in a rising market, risks remain in platforms, devices, and everyday actions.
Review recent theft incidents to understand where risks arise and how to protect yourself better.

Illustration of an exchange building at night
Illustrative image · Not a photo of the incident
Platform system risk

Bitget wallet security incident

Bitget officially confirmed approximately US$388m in affected platform assets following unauthorized transfers from some hot and warm wallets. Its investigation pointed to a vulnerability in a third-party security product and misuse of internal credentials. Bitget said user account balances were unaffected.

Expert perspective / Custody risk

Two-factor authentication on an individual account cannot replace access controls in a platform’s backend. When choosing a platform, also understand withdrawal arrangements, control over assets, and incident-response procedures.

Bitget · Updated October 20
Illustration of a metal hardware wallet
Illustrative image · Not a photo of an affected device
Device supply-chain risk

Ledger and CryptoBilis device security incident

According to CoinDesk, malicious hardware implanted in some devices sold through CryptoBilis could steal recovery phrases and transmit them externally. Ledger had not confirmed the final total loss.

Expert perspective / Supply-chain risk

Holding the device yourself does not remove the need to verify its source. Once a recovery phrase is exposed, changing the PIN or replacing the device while keeping the old phrase does not restore security.

CoinDesk · Investigation update

Individual incidents do not represent every platform or device. Refer to the original reports and subsequent investigation updates for details.

04 / SECURITY Q&A Learn step by step

Protecting your assets matters as much as understanding the market.

Six multiple-choice questions explore how you would handle real security situations. Choose an answer, then learn why each option is right or wrong.

Keep recovery phrases offline

Do not take screenshots, upload them to cloud storage, or send them to “support.” Keep the secret that restores your wallet in a secure offline location.

Verify sources and review approvals

Check the source of wallets and devices, and avoid unknown links. Before signing, verify the domain, permissions, and transaction details.

Use strong authentication and separate holdings

Use unique passwords and strong authentication. Separate everyday interactions from long-term holdings to reduce the risk from a single point of access.

Asset security Q&A · Single choice

Choose your answer and understand the reasoning.

Question 1 / 6
Answered 0 / 60%

Your answers are stored only in this browser. Correct answers do not mean your assets are secure.

Every custody method carries risk. Good security habits help reduce it.