After a strong rally from the start of July to mid-August, the market began showing exhaustion signs in the second part of August. September started on a negative note as the crypto market lost 17.5% of its value in the first week. A sideways movement followed in the remaining days, and the market ended the month with a negative return of 14.9%.
After a strong altcoins run in recent weeks, Bitcoin performed relatively better in September. It recorded a negative return of -8%. Bitcoin represented 58.0% of the total cryptocurrency market capitalization at the end of the month, slightly up from last month’s 57.3%.
The Solidum Crypto Quant Strategy portfolio included some of the best-performing crypto assets in September, namely Binance Coin (+26.48%), Bitcoin (-7.65%), and Bitcoin Cash (-16.92%). The performance of these assets greatly contributed to the overall monthly performance of the portfolio in September.