After a massive rally in April, the crypto market continued to grow and gained 5.8% in the first week of May. However, after weeks of consistent growth, the market went into a correction mode and recorded a sharp loss of 15.3% in just two days. The correction was short-sighted, and the market quickly rebounded to finish the month with a solid gain of 8.4%.
Solidum Bitcoin Momentum Strategy substantially underperformed the market in May. Occasionally, the market dynamics affect investment models in a way where they generate false signals. In the previous month, the crypto market exhibited high fluctuations, which is not an ideal market environment for our investment models. Consequently, the strategy underperformed the market in May with a negative return of -34.71%. We have already upgraded our investment models to enhance our performance in the future.