Blockrise Marketupdate August & September 2025: The Blockrise Summer Edition

Bitcoin closed a strong July with double-digit gains, showing resilience despite heightened selling pressure from long-dormant accounts. Blockrise’s Fundamentals strategy also delivered solid performance, benefiting from continued market strength while rebalancing exposure to manage risk. In parallel, regulatory clarity and high-profile listings continue to shape the broader crypto landscape, with liquid staking protocols gaining momentum and Bullish making waves in public markets.

August, showed a correction in response to July, where our portfolio strategy outperformed Bitcoin, using our Euro position to increase the bitcoin exposure.

Beyond crypto, global markets remain focused on shifting tariff policies and the rapid rise of new tech players such as Lovable, whose accelerated path to unicorn status highlights the disruptive potential of AI-driven platforms. This edition of our newsletter brings you the latest insights across Bitcoin, Blockrise’s strategy, key developments in crypto, and global economic trends.

📈 Market Update

A brief analysis on Bitcoin and Blockrise Fundamentals:

Bitcoin Analysis

In July, Bitcoin had a very positive performance of +10,14%, reaching €104k per bitcoin. There was significant profit realisation this month from long-dormant accounts that sold bitcoin through OTC trade desks, increasing selling pressure. Although the dormant supply created a liquidity stress test combined with the latest tariff deadline, the market remained resilient and absorbed the additional supply.

In August Bitcoin reached an all-time high, which was followed by a market reversal decreasing by -7,51%. The price depreciation was characterised by profit realisation of investors and the enactment of tariffs on the global markets.

Fundamentals

Blockrise offers comprehensive care with its asset management strategy called "Fundamentals." This strategy involves managing assets in Bitcoin versus an euro position, reassessing and adjusting these positions monthly.

In July, our portfolio strategy also had a positive month closing +9,61% performance. The market demonstrated an upward trajectory after a month of sideway price movements with continuous buying pressure. After a very large negative difficulty adjustment at the start of July, Hashrate reached an all-time high again, demonstrating the large appetite to continue mining under these market conditions.

The stark price increasing caused a divergence in the overvaluation of Bitcoin, according to our model. In order to manage our risk exposure we decided to realise profits, decreasing our Bitcoin exposure. The portfolio has been rebalanced to an allocation, consisting of an 80% position in Bitcoin and a 20% position in euros.

In August, the bitcoin price dropped enough to trigger the intervention policy where the investment strategy increased its Bitcoin exposure by 5% to 85%, reducing the Euro position to 15%. Today the investment strategy rebalance again to 85% bitcoin and 15% Euro, keeping the same weights. The intervention caused the investment strategy the outperform Bitcoin this month by almost 2%. In addition, Blockrise’s investment strategy outperformed Bitcoin over the last three months.

🗞 Crypto Highlights

An overview of the most notable events in crypto:

SEC affirms liquid staking protocols aren’t securities

The SEC’s new guidance on liquid staking boosts governance tokens like LDO and RPL, while TVL across protocols holds steady at $67 billion. According to DeFiLlama, Lido dominates the market with 47% market share.

The SEC’s clarification appears to have established baseline confidence. The ruling reinforces trust in decentralised staking models that previously fell in a regulatory gray area.

Bullish IPO

Crypto exchange Bullish raised $1.1 billion at a $5.4 billion valuation in an IPO a few weeks ago. The two co-founders Brendan Blummer and Kokuei Yuan owned more than 56% of the company, making them crypto billionaires.

Bullish, backed by tech billionaire Peter Thiel, opened 143% above its IPO price of $37. Bullish is one of many crypto companies that had a successful public listing this year. In June, Stablecoin issuer Circle made a highly successful stock market debut. Other companies such as Mike Novogratz’s Galaxy Digital and crypto trading app eToro had fruitful listings.

🏦 Macro Economy

An overview of relevant global economic events:

Lovable

Lovable hit the spotlights last month after reaching unicorn status in just 240 days. Lovable’s dashboard allows its users to create dashboard with AI and without coding. For example, users can easily create a beta version of a product in Lovable, easily adjusting by telling the GPT. This way users without the necessary coding proficiency can quickly visualise their ideas.

In the summer of 2024, a GPT engineer suddenly appeared on GitHub, rapidly gaining momentum with developers. In December 2024 Anton Osika launched Lovable, embedding the promise that “anyone can create software people love” into its name. In 60 days, Lovable reached $10 million annual recurring revenue (ARR), and after 90 days its secured its first investment round of $15 million with only 15 employees. To put this in perspective, it took other unicorns such as Notion and Figma around 2 to 3 years to reach $10 million ARR. After 240 days, Lovable reached $100 million ARR and its unicorn status.

The result of the global tariffs

Through Blockrise’s newsletters, we’ve discussed the impact of Trump tariffs extensively. While the topic may seem primarily U.S.-centric, its effects ripple across the global economy and all asset classes. Four months after the tariffs initially rattled financial markets, the revisions announced on August 1st drew a more muted response from investors.

Despite this, the average U.S. tariff now stands at 15%. This is among the highest levels since the 1930s and roughly 600% higher than just a year ago. The economic implications are significant: rising costs for American companies and consumers are expected to erode purchasing power. President Trump, however, maintains that these measures will encourage companies heavily reliant on U.S. consumers to relocate operations back to the United States.

The administration’s approach to tariff exclusions has exposed conflicting priorities and contradicted earlier statements. Initially, Trump and his advisers insisted that no company, large or small, would be exempt. Yet since April 2nd, more than a third of U.S. imports by value have been excluded. The biggest beneficiaries so far have been major tech firms like Lenovo and Samsung. In contrast, large retailers such as Home Depot and Walmart, among the largest importers, have been less fortunate. The criteria for granting these exclusions remain unclear.

The information provided in our articles is intended solely for general informational purposes and does not constitute (financial) advice.