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Crypto Funds Surge: Is October 2026 Too Late?
2 Oct
Summary
- Crypto funds saw $3.55 billion in inflows last week, mainly driven by Bitcoin.
- Despite recent gains, major cryptocurrencies remain below last year's values.
- Zcash is a standout performer, showing strong gains in both quarterly and yearly terms.
Crypto funds experienced a substantial influx of $3.55 billion over the past week, with Bitcoin leading the surge. Bitcoin's value has seen a notable increase of 33.4% in the last 90 days. This has led many investors to question if it is too late to enter the crypto market in October 2026.
Despite this recent positive momentum, most major cryptocurrencies are still trading below their values from a year ago. Bitcoin has declined by 29.7% year-over-year, Ethereum by 38.4%, and XRP by 49.6%. This performance suggests that the current gains might be a bounce from a low point rather than a full market recovery.
Chainlink and Cardano, for instance, showed strong quarterly gains but remain down significantly over the past 12 months. Zcash, a privacy-focused coin, has been an exception, demonstrating remarkable growth across both short and long-term periods, rising approximately 677% from February to September.
While weekly fund inflows reached $3.55 billion, this figure should be viewed cautiously. Inflows can often follow price movements, and data from US spot Bitcoin ETFs showed a significant drop in daily inflows towards the end of the reported week. Furthermore, these reports only capture investment products, not the broader trading activity on exchanges.
Analysts at Citigroup have projected significant future gains for Bitcoin and Ethereum, but these targets were set after the recent rally. Compounding investor decisions is the current 10-year Treasury yield of 5.17%, offering a guaranteed return that crypto assets currently do not provide, with only volatile staking rewards available for some.
For long-term investors willing to endure potential downturns, investing in major cryptocurrencies like Bitcoin and Ethereum might still be viable, as they are priced below their start-of-2026 levels. However, Zcash's current price already reflects substantial past increases. Bitcoin needs to surpass the $88,900 mark to regain its early 2026 footing, leaving open the question of whether it's too early to declare a full recovery.
