Crypto Market Insights: Spectrum Portfolio in September 2023
In September 2023, the crypto market presented a mixed bag of performance. The Spectrum Portfolio dipped slightly by -0.28%, while Bitcoin (BTC) exhibited strength, gaining 3.10%. The Crypto 100 Index (CI100) also showed resilience with a 2.75% increase.
September's price action was characterized by sideways movements. BTC traded within the $28,000 to $25,000 range, with $25,000 proving to be a robust support level. However, no clear trend emerged during the month.
Bitcoin dominance continued to rise, siphoning market share from Ethereum (ETH) and most altcoins. XRP saw some stability as it aimed to establish support around the $0.50 level.
We maintain a cautious outlook for the remainder of Q4 '23 due to the weak traditional macro-economic environment and central banks signaling prolonged low-interest rates. While we expect crypto valuations to face pressure in the near term, we hold a positive long-term view.
For a more detailed analysis of our portfolio's positioning, performance, and our outlook, please refer to the Spectrum Factsheet.
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