Only 9 tokens beat Bitcoin on drawdown, nearing ATH—LEO, TRON & Hyperliquid lead
CryptoSlate says Bitcoin is about 43% below its all-time high, yet it is still outperforming most of the non-stablecoin market on a drawdown basis. After excluding stablecoins and gold-backed tokens, only nine assets are currently closer to their all-time highs than Bitcoin.
Key list (distance from ATH): UNUS SED LEO (~-5.53%), Sky (~-24.33%), Kite (~-24.56%), Canton Network (~-28.06%), TRON (~-29.77%), Hyperliquid (~-31.10%), MemeCore (~-37.08%), Siren (~-39.18%), and STABLE (~-39.70%). Bitcoin sits at ~-43.26%.
The article highlights a “three-zone” relative-strength framework:
1) A clear lead group where the cushion over Bitcoin is largest (LEO plus Sky/Kite/Canton/TRON/Hyperliquid).
2) A marginal edge group (MemeCore, Siren, STABLE), which could lose its advantage with small relative moves.
3) The rest of the market trading with deeper drawdowns than Bitcoin.
Traders should watch whether these nine assets can keep staying above Bitcoin’s -43% drawdown baseline as relative performance pressure shifts. If they fail, the exception list could shrink quickly; if Bitcoin stabilizes, the leaderboard may broaden again—at least temporarily.
Neutral
该报道本质是“相对强弱排名”的市场快照：比特币仍在ATH下方约43%，但在剔除稳定币/黄金挂钩资产后，只有9个非稳定币更接近ATH。因此它提示的是“结构性韧性”，而不是新增催化或基本面利好/利空。
对交易的直接含义偏中性：短期内，更接近ATH的代币（如LEO、Sky、TRON、Hyperliquid）可能因相对强势吸引资金，形成延续性；但边际优势组（MemeCore、Siren、STABLE）缓冲较薄，一旦BTC止跌或波动扩大，可能出现相对回吐，从而迅速改变榜单。
从历史经验看，当市场以BTC为基准资产时，BTC相对表现改善往往会带动风险偏好，但反过来如果BTC跌破关键水平，通常会导致“例外名单”收缩——大多数相对落后资产更先被抛压。本文当前只描述现状与阈值（以BTC -43%回撤为线），因此更适合用于短中期的相对强弱监控，而非方向性下注。