Hayloo’s Beta Desk. Beta measures how far a coin moves when Bitcoin moves. The desk splits that number by direction, measuring what a coin catches on Bitcoin’s up-days against what it hands back on the down-days. Above one, the coin amplifies Bitcoin. Below one, it damps Bitcoin’s moves. Hand back more than you catch and your portfolio is paying Hayloo’s Altcoin Tax™.
ETH is the free focus coin of the week. Its Tax gap crossed zero on 8 October. With Ethereum losing an edge, all major Altcoins now pay a tax on Bitcoin.
◆ FOCUS COIN
Ethereum
Of every dollar Bitcoin gained, ETH captured 119 cents. Of every dollar Bitcoin lost, ETH gave back 122 cents. Down-capture rose from 1.06 last week to 1.22. Up-capture barely moved and sits at 1.19. Twenty days ago, ETH’s Tax gap stood at +0.23. On 8 October it crossed zero, ending 65 days in which ETH charged Bitcoin the tax. ETH’s tax gap is closing fast, a signal we flag before regime turns in either direction.
One major Altcoin on our board lost so much edge this week, it pays Bitcoin the biggest tax gap since last year. Continue to read the whole board of Hayloo’s Altcoin Tax™ for week 42.
On our use of AI:
We’re a private crypto fund out of Switzerland. We built a Neurosymbolic Compound AI System for our own desk: it follows our strategies, it reads the news that affect our portfolio, it sits on a database going back decades, and brings math to our everyday emotions. We call it Hayloo. It’s our best hire. This Substack is compiled by Hayloo and approved by us.
Humans have written machine-assisted for centuries. What never changes is who decides.
Nothing at Hayloo INC. was ever decided by a machine. What we publish is what we defend as a team. When it’s wrong, it’s wrong because humans signed it.
Jordi Federer, Founder, Hayloo INC.