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House View

Sygnum House View – May 2023

Coinbase’s announcement that they might leave the US due to the regulatory environment triggered a correction that disrupted the bullish sentiment in April as such a move by the largest US-based crypto exchange would hurt institutional flows. The resulting -10 percent correction was not unexpected after the market’s +75 percent rise – and Bitcoin’s 90 percent – since the beginning of the year. However, the correction was short lived, and the market recovered to positive territory, ending the month +2.1 percent (S&P Broad Crypto Market Index), with Bitcoin +2.8 percent. Ether outperformed as its much-anticipated Shanghai upgrade went live, but it also corrected more sharply, ending April +3.0 percent in line with the market.

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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