PK Day | Arbitration $BTC, $BTC Defends, Winning by Taking Hits
The scoreboard that resets every three days has flipped to page 25, and this round $BTC still wins, winning in the ugliest way: losing slower than others in a bear market. In the seven-day window, $BTC returns -1.76%, $ETH -5.16%, nearly double the difference; maximum drawdown 3.6% vs. 5.9%; Sharpe ratio -3.61 vs. -7.42; cumulative net inflow $207 million vs. $106 million, $BTC leads in all four metrics. Last round $BTC flipped the table with a big bullish candle, this round no one had a bullish candle, so it’s about who can protect their face while taking hits. $ETH paid a higher rent this week (average fee rate 0.0039% vs. 0.0024%), but still couldn’t protect its face; this defense would even earn respect from the Chinese national football team that lost 0-1 to Tajikistan last night.
Who Bleeds Slower
The normalized curves clearly show: before 10/04, the two lines were still joking around, $BTC peaked above 102, $ETH just passed 100, then both plunged, $BTC steadily slid to 98.2, $ETH directly smashed to 94.8. The drawdown is even more painful: $BTC’s max drawdown was 3.6%, $ETH’s was a sharp 5.9%, with nearly 5% cut in a single day on 10/07. In the same bear market, $BTC at worst is bleeding slowly, $ETH has opened the floodgates.
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