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Sygnum House View - Jul

Sygnum House View – Bitcoin ETF filing ushers in a bullish era

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.

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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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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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