House View Website (5)

Sygnum House View – A crypto market upturn and the catalysts fueling this rally

The crypto market moved up in a straight line throughout November, following the rally that started the previous month. Encouragingly, the rest of the market outperformed Bitcoin, indicating that the rally ignited by Bitcoin-specific news has become a broad-based market trend. Bitcoin was up +8.8 percent for the month, while news of Ethereum spot exchange-traded fund (ETF) filings allowed Ether to start reversing its long-run underperformance, with the token rising +13.0 percent. The S&P Broad Crypto Market Index ended the month near the highs at +12.1 percent.


Bitcoin traded between USD 34,083 and 38,415 in November, and Ether traded between USD 1,780 and 2,135.

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.

Disclaimer

This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.

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