The Katana Programme concluded June 2025 with a performance of -7.01%.
Bitcoin started the month at $104,800, and traded down to test the $100,000 support level. Our algos established short positions into this drop. Unfortunately support held and price quickly reversed stopping out our positions. The ensuing rally saw new longs established but resistance just below $111,000 meant this rally failed as did our long positions. Subsequent geopolitical events in the Middle East drove price below $100,000 for a brief period, again our algos established short positions through this price drop. We were further whipsawed as market tensions evaporated on a Middle East ceasefire. Whilst Bitcoin continues to consolidate in a tight range between $100,000 and $110,000 we must expect difficult trading conditions to remain.
Our hybrid Trend and Momentum program Odachi was -4.51% for the month.
