PK Day | Verdict on $BTC, $BTC wins three times in a row, not because it can fight but because it can endure
The scoreboard flips to page 26, $BTC wins again, this time winning in the most boring way: who can endure the bear market better. In the seven-day window, $BTC returns -2.19%, $ETH -4.04%, nearly double the difference; maximum drawdown 4.5% vs. 6.1%; Sharpe ratio -4.44 vs. -6.08. The three consecutive wins rely on defense rather than offense, similar to that team known for "can't win but can wear down" — you can't score on my goal, I can't score on yours either, but I concede one less. $ETH paid 60% more rent this week (average fee rate 0.0024% vs. 0.0015%), suffered 40% more drawdown, and the money ran slower (net outflow 24.6 million vs. 241 million), losing on all three fronts, it's maddening.
Two lines, one chart
When the normalized curves are laid out, the story is just one line: before 10/04, the two brothers were still hand in hand, $BTC touched above 102, $ETH barely passed 100, then both slipped down. $BTC fell to 97.8 but still breathing, $ETH directly smashed below 96. The drawdown is more straightforward: $BTC's maximum drawdown was 4.5% throughout, $ETH took a one-shot 6.1%, on 10/07 alone it shaved off more than 4%. In the same bear market, $BTC at worst is weak-legged, $ETH is knee-shot.
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