Sygnum House View
The crypto market was unusually flat and stable with very low volatility throughout October, until a brief rally that appeared to be related to covering expiring short futures positions, lifted prices slightly in the last days of the month. Bitcoin ended the month up 5.5 percent and the overall market was up 7.2 percent. Ether reversed its previous underperformance since the Merge upgrade and rose 19.9 percent in the last few days of October. Bitcoin traded in the range of USD 18,320 - 20,988 in October, and Ether traded between USD 1,209 and 1,652.
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.