October began on a cautious note amid rising Middle East tensions, yet Bitcoin concluded the month with an impressive 10.71% gain, setting it apart in what many are now calling “Uptober.” This performance sharply contrasts with broader crypto assets, many facing headwinds mid-month. Bitcoin’s climb, supported by a three-year high in market dominance, heightened volatility, and significant ETF inflows, underscores investor positioning ahead of the U.S. election.

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Memecoins led sector gains, with Dogecoin outperforming Bitcoin by 27%. Conversely, Ethereum’s value relative to Bitcoin declined by 12.8%, marking its lowest level since April 2021.

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Crypto prediction markets surged past $3 billion in volume, underscoring their role as both speculative instruments and sentiment indicators. At the same time, filings from Bitwise and 21Shares for spot XRP ETFs reinforce the sector’s push toward regulated products. Meanwhile, Uniswap’s launch of Unichain marks a strategic move to boost transaction efficiency and scalability across its network.

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Demand for asset tokenization surges as State Street, UBS, and Legal & General accelerate efforts to tokenize funds, while JPMorgan positions Bitcoin as a hedge against geopolitical risks. MicroStrategy continues its bold strategy, eyeing a trillion-dollar future as a “Bitcoin Bank.”

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Portfolio Performance Analysis

FiCAS Selected Crypto Assets ETI Performance:

In October, headwinds in the altcoin market slightly impacted portfolio performance. We remain optimistic about a strong Altseason, and the current allocation of 75% in altcoins and 25% in Bitcoin continues to be a strategic choice. Moving forward, it will be essential to have a well-curated selection of altcoins and to choose the right assets carefully. The ETI concluded the month with a performance of -1.17%. More about it here.

FiCAS Dynamic Crypto ETP Performance:

In October, the portfolio maintained a heavier weight in BTC along with a selection of altcoins. The FiCAS Dynamic Crypto ETP has a year-to-date gain of 4.40%. More about it here.

15 FiCAS Active Crypto ETP:

In October, the portfolio maintained a heavier weight in BTC along with a selection of altcoins. The 15 FiCAS Active Crypto ETP has year-to-date gain of 20.34%. More about it here.

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Market Outlook

As we enter November, the digital asset market stands on the brink of key shifts. The U.S. election could spark renewed interest in digital assets Market if Trump, popular among crypto supporters, gains momentum. Such a result may even bolster altcoin performance into early 2025. In contrast, a Harris win could steer investors toward Bitcoin’s stability, increasing its market share as sentiment shifts cautiously as the safe asset in crypto market.

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Monetary policy will play a defining role, with a 25 basis point Fed rate cut widely expected this month, which may strengthen Bitcoin’s position as a preferred asset. While a year-end Bitcoin target of $100K remains ambitious, these developments point to continued resilience.

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Institutional appetite for tokenized assets also continues to build, and XRP is potentially on track for an ETF listing. Regulatory pressures, however, loom, with the Treasury scrutinizing Tether’s ties to sanctioned entities—a reminder of the regulatory hurdles ahead for stablecoins in the U.S. market.

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Disclaimer: This content is for educational and informational purposes only and does not constitute trading, legal, or investment advice. It is directed at our followers in Switzerland and may not represent the views of FiCAS. The author may hold assets mentioned in this article and assumes no obligation or responsibility for any actions taken based on the information provided.