Only nine non-stablecoin Token are closer to their all-time highs (ATHs) than Bitcoin, suggesting that the majority of market losses remain concentrated in other assets.
Currently, Bitcoin is still 43.26% below its all-time high (ATH). At first glance, this number seems like a reminder that the recovery is not yet complete. However, in relative terms, Bitcoin is still holding up better than most of the market.
According to market data, BTC is currently trading around $71,606, compared to its all-time high of $126,198.
Only 9 Token outperform Bitcoin.
When excluding stablecoins and gold Peg Token , only 9 assets experienced a smaller decline than Bitcoin: UNUS SED LEO, Sky, Kite, Canton Network, TRON, Hyperliquid, MemeCore, Siren, and Stable.
This list is very narrow, given that much of the market is still suffering significant declines from its historical peaks.
Bitcoin's benchmark drawdown is currently 43.26%. Any Token with a drop below this figure has preserved more value than BTC during the market cycle. However, only 9 assets meet this condition; the rest have all fallen deeper than Bitcoin.
Looking at this order, it's clear that Bitcoin has become the dividing line between the small outlier group and the rest of the market.
Bitcoin continues to outperform the majority of the market.
Despite undergoing significant corrections, Bitcoin remains in a better position than almost all non-stablecoin assets.
Some Token with large scale and high liquidation , such as LEO, TRON , and Hyperliquid, are notable exceptions when compared directly to BTC. Other assets like Sky, Kite, MemeCore, or Stablecoins have smaller market Capital or unique structures, making their advantage over BTC quite tenuous.
Three distinct performance groups
The gap compared to Bitcoin creates three groups:
- The clearly dominant group: LEO; Sky, Kite, Canton Network, TRON, Hyperliquid still maintain a large lead over BTC's 43% baseline.
- The slightly stronger group includes MemeCore, Siren, and Stable, only a few percentage points ahead of BTC . A small fluctuation could cause them to fall below BTC.
- The rest of the market: has fallen even further than BTC.
Bitcoin remains the market's benchmark asset.
Bitcoin remains the "benchmark" for the market. When BTC weakens, most other assets tend to follow; conversely, if BTC holds its price better, Capital flows will concentrate on BTC, reflecting strong structural demand and market sustainability.
While a 43% drop is still significant, compared to the overall context, it demonstrates Bitcoin's relative strength. BTC has both withstood absolute damage and maintained its relative position, still establishing a baseline that other assets need to surpass.
What happens next?
This list of 9 exceptional Token is unlikely to remain unchanged for long. Assets at the bottom of the list, such as MemeCore, Siren, and Stable, are only a few percentage points ahead of BTC and could quickly lose their advantage if there is volatility.
The crucial question is: can these Token continue to maintain a position closer to their all-time high (ATH) than Bitcoin, or will BTC 's 43% drop become a threshold below which more and more assets will fall?
This development will be a key indicator of the market's relative strength and help identify which assets are resilient in the current climate.
