Sygnum House View
The crypto market appreciated slightly at the beginning of November as macro sentiment was turning more positive. Just as it was looking like the market bottomed out, news of the FTX fraud hit and the market dropped about 30 percent. It has, however, stayed surprisingly stable and resilient since, and recovered slightly towards the end of the November. Due to the systemic nature of the events, there was little difference between the performance of the leading tokens. Bitcoin ended the month down 16.2 percent, Ether was down 17.6 percent, and the overall market was down 17.1 percent. Bitcoin traded between USD 15,599 and 21,447 in November, and Ether traded between USD 1,081 and 1,661.
Read our House View report below, where the Sygnum Asset Management team review news, trending topics and regulation that are influencing the digital asset markets. The Sygnum sentiment analysis and the market analysis gives a month-by-month performance overview for several of the top crypto assets.
The Sygnum House View is available to professional and private qualified Swiss investors. For other updates on the digital asset markets, read our Insights articles here.