The crypto market is primed for a bullish fourth quarter despite the recent pullback, according to Coin Bureau’s Guy Turner.

Turner tells 2.71 million subscribers of the Coin Bureau YouTube channel that after a “brutal sell-off that wiped out weeks of gains,” the crypto market could be headed for the “most explosive quarter of the year.”

According to Turner, the crypto market’s bullish case in the fourth quarter rests on “three powerful pillars” that include institutions that have already invested in Bitcoin and could also invest in altcoins amid a potential altcoin exchange-traded fund (ETF).

“The altcoin ETF pipeline is now primed for Q4. Bloomberg analysts are giving spot ETFs for assets like Solana, XRP, and Litecoin a 75% to 90% chance of approval before the end of the year. And this isn’t a minor development. This is a potential floodgate opening for billions of dollars in institutional capital to flow directly into top-tier altcoins for the first time.”

Turner further says that monetary policy and historical precedent are other potential catalysts for a bullish fourth quarter.

“Now, historically, a Fed easing cycle is one of the most powerful tailwinds for risk assets. As the return on holding cash goes down, capital seeks out scarce non-yielding assets. And there is no scarcer digital asset than Bitcoin….

October has historically been one of Bitcoin’s strongest months with an average return of nearly 23%. In every single one of the past three bull cycles, a September slump has set the stage for an explosive Q4 rally. So if history is any guide, this current weakness could be the final shakeout before the next major leg up.”

On the risks that could curtail a bull run during the coming quarter, Turner says there are “serious ones to watch out for.”

“The primary risk is the simple fact that the market remains over-leveraged. The recent cascade was a stark reminder of how quickly things can unravel when sentiment shifts.

Another major concern is the broader macroeconomic picture. Lingering recession fears and weak global economic data could create a risk-off environment that drags crypto down along with traditional markets like the Nasdaq.”