Bitcoin’s correction in May is recorded as the sixth worst correction in its history. The sell-off was accelerated by Elon Musk’s tweet about suspending Tesla car purchases with Bitcoin. Major cryptocurrencies lost between 30% and 75% of their value last month.
The Solidum DeFi Quant strategy underperformed the market in the previous month. The market recorded a loss of -37.12% and the strategy ended the month with a loss of -54.26%. By the end of May, the strategy was fully hedged in stablecoins.