GSR nudged Bitcoin up in its latest Core3 model as markets cooled, trimming Ether exposure and keeping Solana sizable despite its steep losses. What changed - On Aug. 5 GSR’s Core3 model allocated 44.1% to Ether, 36.5% to Solana and 19.3% to Bitcoin (rounded total 99.9%). - That’s a marked shift from July 15, when the model had 53.1% in Ether, 37.6% in Solana and just 9.2% in Bitcoin — a 10.1 percentage-point rise for BTC and a nine-point cut for ETH in under a month. - Earlier on July 8 the model showed 46.7% ETH, 40.1% SOL and 13.1% BTC, highlighting fast-moving signal-driven allocations. Why the tweak GSR says the market was subdued in the latest week: low trading activity, modest price moves and falling volatility. Interpreting those conditions as a quiet market without a clear directional trend, the firm increased Bitcoin exposure and trimmed Ether based on its proprietary quantitative signals — not simply recent price action. GSR also cautioned these are model-driven views, not guaranteed forecasts. Performance snapshot - Year-to-date (2026): BTC -24.82%, ETH -35.49%, SOL -40.21% — Bitcoin was the best-performing of the three despite receiving the smallest allocation. - One-year: BTC -47.08%, ETH -44.73%, SOL -54.89%. The declines across all three point to broad market weakness rather than issues isolated to a single chain. - Last 30 days: ETH +5.16%, BTC +1.26%, SOL -9.64%. - Last week: SOL +1.86%, BTC +1.19%, ETH -0.54%. Volatility and Solana specifics - Recent 30-day volatility: SOL 37.39%, ETH 41.69%, BTC 29.89%. SOL’s 60-day volatility remains higher at 54.92%, showing calmer trading only recently after a volatile stretch. - SOL’s heavy drawdown has been driven by whale selling, weaker DeFi activity and liquidation events; planned network upgrades are positive for the long-term narrative but haven’t prevented sharp token losses. Over one year SOL’s -54.89% performance was deeper than both BTC and ETH. Model vs passive basket - The Core3 model has fallen 37.86% YTD and 57.78% over one year. - An equally weighted BTC/ETH/SOL basket declined 33.99% YTD and 49.84% one year. Core3 therefore underperformed the passive basket by 3.87 percentage points in 2026 and 7.94 points over 12 months — a reminder that active, signal-driven allocations can amplify both gains and losses relative to a static split. - Model volatility: 30-day 38% (vs 35.87% for equal-weight basket); 60-day 42.64% (vs 43.69%). Context and outlook Ether’s relative struggle vs. Bitcoin has pushed the ETH/BTC ratio toward multiyear lows, influenced by stronger institutional demand for BTC, competition from Solana, and lingering questions about ETH’s value capture. GSR says upcoming weekly allocations will hinge on trading volume, relative momentum and volatility; the next update will reveal whether the model continues shifting toward Bitcoin or reverses course. Disclaimers GSR emphasizes these allocations are hypothetical model outputs, exclude transaction and management fees and do not account for staking rewards. The material is directed at professional investors, is not investment advice, and GSR may take positions different from the published model or trade these assets for its own account. Bottom line: with volatility cooling, GSR’s signals nudged the Core3 model toward more Bitcoin exposure — a defensive tilt after heavy losses in ETH and SOL, but one that underlines how quickly quantitative allocations can change in response to market microstructure. Read more AI-generated news on: undefined/news