The Katana Program concluded August 2025 with a performance of -4.65%.
Bitcoin started the month at $116,625, and traded down to test the $112,000 support level. The bounce off that level saw BTC hit a new high of $124,560 in less than two weeks. Our algos established short positions into the initial drop. The subsequent rally saw numerous longs established. The nature of the rally was extremely volatile with numerous retracements of many thousands of dollars.
After the mid month high the rest of the month saw price slowly retrace back down to $112,000 followed by a sharp counter trend retracement up to $117,500. This high did not hold and BTC fell away to a low of $107,300. Our algos continue to be whipsawed as strong trends remain elusive. Whilst Bitcoin chops in a volatile range we must expect difficult trading conditions to remain.
