• Solana outperforming Bitcoin and Ethereum was the major highlight of the last quarter.
• OP and MKR had their highs as there were more to look forward to in Q4.

The third quarter of 2023 (Q3) was full of twists and turns for the crypto market led by Bitcoin [BTC]. At some point, market participants had much to celebrate. Other times, the conviction that the market would either be favorable or maintain a good level of stability dampened.

Read Bitcoin’s [BTC] Price Prediction 2023-2024

Crypto assets decouple from others

Interestingly, 21Shares released an in-depth report of what went down in the sector across all levels. To start with, the largest suite of cryptocurrency Exchange Traded Products (ETPs), mentioned that macroeconomic factors remained in limbo despite the Fed interest hike to 25 basis points (bps).

However, in September, the rate did not increase, leaving open the possibility of an interest hike in the latter months. On a Quarter-on-Quarter (QoQ) basis, Bitcoin decreased by 11.52% while Ethereum [ETH] fell by 13.60%. The S&P 500, which had a strong correlation with BTC and ETH at one point moved in the opposite direction, leading 21Share to conclude that,

“Crypto has been historically negatively correlated with this index, signaling that investors view it as a risky asset class. However, as crypto expands on use cases, we are seeing increasing decorrelation within the asset class itself.”

Solana beats Bitcoin and Ethereum

But there was Solana [SOL], whic

Go to Source to See Full Article
Author: Victor Olanrewaju

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details