As it happened several times last year, the crypto market traded in an extraordinarily narrow range again in December, closely resembling a flat line. The only slight movement was due to a level of optimism on the macro front about slower rate hikes after better-than-expected inflation figures and increasing signs of a recession. However, Fed Chairman Jerome Powell’s statement after the FOMC meeting reversed the macro sentiment, and crypto assets gave back small gains made earlier in the month. Bitcoin ended the month down 3.6 percent, Ether down 7.6 percent, and the S&P broad crypto market dropped by 8.4 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. 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.
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