September presented a mixed but ultimately challenging picture for the digital asset market. Bitcoin showed surprising strength against the grain, finishing the month with a respectable gain of .

However, the broader altcoin market, where our strategy is primarily focused, faced significant headwinds. The Altcoin Index declined sharply, ending the month down . In this divergent environment, the StratX Alpha Strategy experienced a drawdown, concluding September with a return of .

While this is a negative result, our performance closely tracked the altcoin sector, and we managed to narrowly outperform our Altcoin Index benchmark. We are actively analyzing the conditions that led to this divergence and are calibrating our models to better navigate this market phase.