LONDON - TelAve -- While most investors are trying to forget March 2026, one hedge fund is having a very different experience.

At a time when crypto has been cut in half, equities are beginning to slide, and confidence is draining from global markets, the Hong Kong and London-based sports and prediction market hedge fund has emerged as a clear outlier.

And the timing could hardly be more striking.

For many, March didn't begin badly.

Markets still carried the confidence of the run that came before. Crypto was strong. Equities were holding. The prevailing belief was simple — that the trend would continue.

Then it didn't.

Bitcoin, after pushing beyond $120,000, began to fall. What initially looked like a routine pullback quickly turned into something more severe. Within weeks, it had dropped by roughly 50%, dragging the broader crypto market down with it.

The shift in equities was quieter, but no less significant. The S&P 500 began to ease, technology stocks lost momentum, and the sense of stability that had defined recent months started to fade.

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Even gold, traditionally a refuge in uncertain times, failed to provide a clear sense of protection.

By the middle of the month, the mood had changed.

Investors were no longer talking about opportunity — they were thinking about risk.

And yet, running alongside this reversal, a very different story has been unfolding.

Sports Edge Trading, which operated from Hong Kong and London focuses on sport and prediction markets, has continued to build gains — not despite the volatility, but largely independent of it.

Unlike traditional markets, where outcomes are tied to macroeconomic forces, sports and prediction markets are driven by events. Matches are played. Results are determined. Markets settle.

That difference matters.

It means that while broader markets are reacting to interest rates, liquidity, and sentiment, event-driven trading operates on a separate track.

For firms positioned to trade those markets actively — rather than simply hold assets — the opportunities remain.

The divergence has become one of the defining features of the month.