Katana August 2023 EOM

The Katana program had a gross return of 10.56% for August. Bitcoin price volatility returned to the market after six weeks of sideways movement around the 30,000 USD price.

Key Events

On 17 August Bitcoin fell over 7% as US 10yr notes rose to 4.32% just shy of a 15-year high. The rise in rates saw risk asset prices sell off and our program captured a good portion of the move.

The US appeals court found that the Grayscale ETF was treated differently than similar products, such as Bitcoin futures ETFs. If the appeals court’s ruling stands, it may open the door for other Bitcoin ETFs. Firms such as BlackRock and Fidelity have applied for their own ETFs. The SEC has 45 days to appeal this ruling.

Bullish price action from 26,000 to 28,000 after the verdict was short-lived though as the move retraced back to 26,000.

Key Takeaway

Key takeaway is that price volatility that Katana profits from could be returning to the market.There are now more than 1 million addresses on the bitcoin network with at least 1 bitcoin. That is growth of more than 100,000 addresses to this club in less than a year.

Check out performance report in August

More Blogs

Katana February 2025 EOM

A decisive breakdown occurred late in the month when Bitcoin breached $93,000, stopping out our long positions and initiating new shorts.

Katana January 2025 EOM

We witnessed multiple moves from above US$105,000 down to as low as US$89,000. The retracements have been rapid and vicious.

Katana Mid-Jan 2025 EOM

The trends have not continued and the range trade has held.

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