Sygnum House View
The crypto market traded sideways in August until a sharp minus 10 percent drop mid-month that was not precipitated nor explained by any crypto-specific or macro news. After the Fed’s post-Jackson-Hole comments, the market drifted down further, ending the month at minus 12.6 percent. Ether outperformed in the first half of the month, continuing the upgrade-inspired momentum of the previous month, but it later dropped in line with the market, ending the month at minus 7.6 percent. Bitcoin slightly underperformed, falling by 14.1 percent.
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. This month we look at factors impacting on the crypto markets, including the US Fed Jackson Hole meeting and the pending Ethereum Merge.
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.