102 bitcoin (XBT) buy 1 BTC, and XBT has already survived 3 bear markets
Right now about 102 bitcoin (XBT) buy 1 BTC, with XBT at about $829. That's after a 12% pullback from Thursday's close of $937. In the six weeks since its main market opened, XBT has already been through three bear markets, and it came back from every one.
The conversion rate
| When | XBT per BTC | 1 XBT in BTC |
|---|---|---|
| Now | about 102 | 0.0098 BTC |
| Sep 5 close (the early peak) | about 70 | 0.0142 BTC |
| Sep 12 close (the bottom) | about 488 | 0.0021 BTC |
From the September bottom, XBT has gained almost 5x against BTC. To reach parity, one XBT for one BTC, it would need to rise about 100x against it. Track the ratio live on the XBT/BTC chart.
Three bear markets in six weeks
A bear market is usually defined as a fall of 20% or more from a peak. Using daily closes on NeoxEX's XBT/USDC market, which opened Sep 1:
| # | Peak (daily close) | Bottom | Fall | Length |
|---|---|---|---|---|
| 1 | $1,095 on Sep 5 | $154 on Sep 12 | −86% | 7 days |
| 2 | $479 on Sep 16 | $267 on Sep 20 | −44% | 4 days |
| 3 | $402 on Sep 23 | $317 on Sep 25 | −21% | 2 days |
Each one would have been a full cycle's worth of pain for an older market. XBT squeezed them into days. After the third bottom, the price climbed for two weeks straight, from $317 to a $937 close on Oct 8.
Intraday swings were even bigger. The first trading week touched $1,799, still the all-time high, and on Oct 8 alone XBT traded between about $1,188 and $730 (UTC day).
Where it stands now
- From the Oct 8 close: down about 12%. That's a pullback, not a bear market.
- From the $1,799 all-time high: down about 54%.
- From the Sep 12 bottom: up more than 5x.
See every drawdown on the drawdown chart.
New markets swing hard, and XBT trades on thin order books. A few large orders can move the price 10% or more in an hour. Size any position for that.
Not financial advice. Prices are NeoxEX daily closes (UTC) for XBT/USDC and XBT/BTC, as of the evening of Oct 10, 2026 (US Eastern). Earlier trading on other venues isn't included. Thin markets mean prices can differ between exchanges.