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Sygnum Monthly Investment Outlook – Crypto market volatility against the backdrop of improving fundamentals

The recent selloff in the crypto market occurred against the backdrop of improving fundamentals, and this creates medium term opportunities. Short term market direction will depend on whether fears of recessions and economically impactful wars prove justified, and whether Bitcoin will behave more like a safe haven asset after large traditional investors entered the crypto market recently and embraced the concept of “digital gold”. The US political and regulatory shift in favour of crypto is a significant development as regulatory clarity can catalyse substantial institutional investment, a positive resolution to the SEC’s acrimonious actions against various crypto businesses would remove a lot of risk, and substantial Bitcoin purchases by governments would create demand shocks.

Bitcoin ended a volatile month +3.1% while the overall market was up +4.9% – not least due to Solana’s good performance in July (+14.5%). Ether underperformed on the weak launch of the Ethereum ETFs, down -6.7% for the month.

The Sygnum Monthly Investment Outlook is available to qualified investors. For additional insights on the digital asset markets, find more updates here.

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