Bitcoin

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<ul class="news-points"> 
 <li>According to Swiss investment adviser 21e6 Capital, 97 of 700 global crypto funds closed in 2023.</li> 
 <li>Bitcoin outperformed crypto funds as part of a significant January gain, followed by a March surge.</li> 
 <li>Directional funds struggled with uncertain markets, operational hurdles, and FTX collapse recovery.</li> 
</ul> 
The crypto winter, while still in recovery, has hit the industry hard, which is reflected in Swiss investment adviser <a href="https://assets.21e6.io/blog/half-year-review-2023" target="_blank" rel="noopener noreferrer nofollow">21e6 Capital AG’s latest report</a>. According to the blog, Of the over 700 cryptocurrency funds present globally, 97 have shut down within the current year. 
According to data from <a href="https://bitcoinmonthlyreturn.com/" target="_blank" rel="noopener noreferrer nofollow">bitcoinmonthlyreturn.com</a>, Bitcoin saw an impressive gain of around 40%, nearly twice the performance of crypto funds, in January. While funds showed approximately similar results to Bitcoin in February (0% change), they failed to capitalize on the upward movement in March, with Bitcoin surging by 23%, while directional crypto funds only managed a 4% increase. 
<figure class="wp-block-image size-full"> 
 <img decoding="async" width="940" height="554" src="https://coinedition.com/wp-content/uploads/2023/08/image-6.png" alt="Comparing the performance of directional fund strategies in 1H2023" class="wp-image-326888" srcset="https://coinedition.com/wp-content/uploads/2023/08/image-6.png 940w, https://coinedition.com/wp-content/uploads/2023/08/image-6-300x177.png 300w, https://coinedition.com/wp-content/uploads/2023/08/image-6-297x175.png 297w, https://coinedition.com/wp-content/uploads/2023/08/image-6-380x224.png 380w, https://coinedition.com/wp-content/uploads/2023/08/image-6-768x453.png 768w, https://coinedition.com/wp-content/uploads/2023/08/image-6-665x392.png 665w, https://coinedition.com/wp-content/uploads/2023/08/image-6-119x70.png 119w, https://coinedition.com/wp-content/uploads/2023/08/image-6-151x89.png 151w, https://coinedition.com/wp-content/uploads/2023/08/image-6-243x143.png 243w, https://coinedition.com/wp-content/uploads/2023/08/image-6-755x445.png 755w, https://coinedition.com/wp-content/uploads/2023/08/image-6-419x247.png 419w, https://coinedition.com/wp-content/uploads/2023/08/image-6-407x240.png 407w, https://coinedition.com/wp-content/uploads/2023/08/image-6-280x165.png 280w, https://coinedition.com/wp-content/uploads/2023/08/image-6-358x211.png 358w, https://coinedition.com/wp-content/uploads/2023/08/image-6-314x185.png 314w, https://coinedition.com/wp-content/uploads/2023/08/image-6-137x81.png 137w, https://coinedition.com/wp-content/uploads/2023/08/image-6-127x75.png 127w" sizes="(max-width: 940px) 100vw, 940px"> 
 <figcaption class="wp-element-caption"> Comparing the performance of directional fund strategies in 1H2023 
 </figcaption> 
</figure> 
21e6 Capital acknowledged that this trend occurred due to the prevailing positive trajectory of the crypto market until the end of June, with regulatory … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/btc-hodlers-drive-market-surge-97-out-of-700-crypto-funds-shut-down/">BTC Hodlers Drive Market Surge, 97 Out Of 700+ Crypto Funds Shut Down</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

BTC Hodlers Drive Market Surge, 97 Out Of 700+ Crypto Funds Shut Down

Coin Edition

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