House view jan 24

Sygnum House View – Navigating the volatility post-Bitcoin ETF approvals

The crypto market started the month with one of the best weekly performances ever on the back of the building bullish sentiment and continued newsflow on the impending ETF approvals and then traded sideways up to year-end. The two leading tokens underperformed (Bitcoin rising +12.1 percent and Ether +11.2 percent), while the rest of the market performed very strongly, leading to an overall +16.8 percent appreciation for the S&P Broad Crypto Market Index.

Bitcoin traded between USD 37,629 and 44,706 in December 2023, and Ether traded between USD 2,047 and 2,445.

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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