🌞 Summer mode activated!

Your summer newsletters will be a bit lighter than usual - just enough alpha to keep you sharp, without interrupting your aperitifs.

June 2025 brought a period of consolidation across the crypto market, following a turbulent May marked by shifting risk appetite and heightened geopolitical tensions.

Bitcoin closed the month with modest gains of +2.5%, while Ethereum dipped by -1.5%, and smaller altcoins saw steeper declines ranging from -4% to -6%. The total market capitalization settled at $3.3 trillion, with Bitcoin’s dominance rising to 64.5%.

This last month was marked by sharp volatility, with Bitcoin trapped in a descending wedge - a chart pattern that typically signals a bullish breakout. But in today’s market environment, technical setups alone aren’t enough. The landscape remains fragile, influenced by shifting macro conditions and increasing political noise.

The Trump administration’s maneuvers — sometimes amplified by a single tweet — have shown their ability to abruptly reverse market trends. While the wedge could indeed resolve to the upside, caution remains essential.

In this cycle, narrative and sentiment move faster than fundamentals.

OUR STRATEGIES IN JUNE

🆙 TrenDynamic

We maintained a 50% allocation to the strategy since late May due to short-term bearish signals on the 1-day timeframe. Meanwhile, the 3-day signals remained fully invested, allowing us to capture a +1.16% gain on the overall portfolio. Our YTD performance is +24,17%.

📈 B/Partners

Following the official valuation of one of the funds in the portfolio, the performance for April has been slightly revised downward. The final figure now stands at +1.54%, compared to the previously reported +1.70%. As for May, the strategy delivered a solid +1.90%, bringing the year-to-date (YTD) performance to +6.17%.

🏧 Yield Farming

Yields have started to decline, stabilizing around an annualized 10%. This trend is consistent across all DeFi stablecoin strategies. While still significantly higher than euro or dollar yields, returns remain below our expectations of 15%, which we aim to regain in the coming weeks.

*B/Partners is a multi-managers strategy that includes funds whose performances are calculated with a 15-day delay from the closing date. The results published in February reflect those of January. There will always be a one-month lag.