Monthly Market Wrap Up by HAL - October 2022

What happened on the crypto market in October: a recap

Bitcoin (BTC) and other top cryptos exhibited an uncharacteristic lack of volatility in October.

Following a month that was mostly bereft of wild market action, crypto finished off October a bit higher, ahead of what may be an action-packed November. The bullish late-month trading action in BTC and in ETH may have been partly driven by a short squeeze in the market.

Adding to the recent hike, a pullback in U.S. Treasury bond yields during the closing week of October also helped Bitcoin and other cryptos rally ahead of a likely Fed rate hike in early November.

BTC is up by almost 6% in October while ETH reached +18%.

Monthly Market Wrap Up - BTC & ETH over October 2022

How did HAL strategies perform in October?

Best performers

Wise: DOGE with +55.69% (vs +105.66% DOGE). The strategy was able to catch the spike of DOGE on October 25.

Pulse: ETH with +15.32% (vs +18.36% ETH) benefited from the end of month ETH rally and erased its first losses from the October volatility crash.

Artificial Intelligence (AI) Pick with +13.66% (vs +5.5% BTC). The strategy got long on ETH both on 23 and 28 October and caught the ETH uptrend.

Worst performers

Wise: BCH with -5.83% (vs +4.17% BCH). It suffered from a lack of clear trends on BCH.

Pulse: BTC with -5.34% (vs +5.5% BTC) was too late in opening long positions and missed the BTC end of month uptrend.

Wise: MATIC with -3.45% (vs +16% MATIC) suffered from false signals and was late getting long at the end of month.

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Investing involves risk, including the possible loss of all the money you invest. In particular, crypto-assets are a highly volatile and speculative asset class. HAL is only suitable for traders who are willing to bear the risk of loss and experience sharp drawdowns. Past performance is not necessarily a guide to future performance. The performances presented are real performances calculated net of execution fees and slippage from a proprietary Binance account.

The purpose of this material is to provide objective, educational and interesting commentary and analysis on developments in the crypto-assets sector. Nothing in this material should be interpreted as constituting an offer of (or any solicitation in connection with) any investment products or services by any member of the CoinShares Group where it may be illegal to do so. Access to any investment products or services of the CoinShares Group is in all cases subject to the applicable laws and regulations relating thereto.