Over the past 7 days, the FS CryptoFX Agg Index increased by 12.6%, compared to a 0.2% decrease for the S&P 500 (Slide 6). Bitcoin’s price surged above $9,000 last Wednesday and, at a point, reached nearly $9,500. This rally is likely to be a good sign as we are approaching the Bitcoin mining reward halvening event in less than one week. Another good sign was that Bitcoin broke through its 200DMA for the first time since the February crash. As one of our crypto investment rules, a break above its 200DMA generally signals a positive long-term trend and has been bullish for Bitcoin historically.

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Sector RotationBitcoin led all other segments of crypto markets this past week. And because of the strong performance of Bitcoin, FS CryptoFX Commodity index and FS CryptoFX Large cap 10 index were the best performing sector-based and size-based index, respectively. The strong momentum of FS CryptoFX Platform index persisted and had the best performance among all non-Bitcoin sectors. Zilliqa and Stellar led within the sector, up 20% and 17%, respectively. The largest member, Ethereum, also gained 7% over the past week. FS CryptoFX Privacy index was the only index that declined over the past week and was down 0.1%. Dash was the primary cause of the laggardship, as it was do...

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