Market Update
Bitcoin continued to face performance challenges in June and found itself squarely in bear market territory. The asset returned -40% for the month, its worst monthly return since trading began in 2010. Its price dropped from $31,000 to $18,895 over the course of the month.
Notably, other risk assets also saw poor returns in June – the S&P 500 returned -8.4% for the month, capping its worst first half return in over 50 years, while the Bloomberg Aggregate Bond Index sold off -1.6%, completing its worst first half performance since inception in 1986.
