Ansem Says Long HYPE and Short Bitcoin Pair Trade Has Outperformed Long HYPE Since Start of Year

Analyst Ansem said on X that data showed a paired strategy of going long Hyperliquid (HYPE) while shorting Bitcoin (BTC) has delivered better returns since the start of the year than a one-way strategy of going long HYPE against the U.S. dollar. According to Odaily, Ansem described the figures as “quite surprising.” He added that, under the current market structure, relative-strength trading may generate higher returns than directional bets on a single asset. Ansem also said the results reflect increased rotation within crypto assets and greater divergence in beta, with a clearer separation emerging between BTC and more volatile altcoins in their return profiles.