The crypto market continued the previous month’s downtrend in June on negative developments such as the SEC’s lawsuit against the largest crypto exchange, Binance. After a -10 percent fall the market recovered sharply on the announcement of BlackRock’s filing to launch a spot Bitcoin ETF. With a 20 percent rebound from the lows, the S&P Broad Crypto Market Index ended the month +5.7 percent Bitcoin was an outperformer on the ETF news, rising 12 percent, while ether underperformed with +3.2 percent. Bitcoin traded between USD 24,797 and 31,390 in June, and Ether traded between USD 1,624 and 1,933.
Read our House View report in the link below, from the Sygnum Asset Management team, for a review of news, trending topics and regulation that are influencing the digital asset markets. The Sygnum sentiment and market analysis give a performance overview for key metrics and 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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