According to @ThinkingUSD, a pair trade can reduce drawdowns when conviction on a bottom is low by making micro portfolio adjustments during volatile crypto markets, source: @ThinkingUSD on X, Nov 13, 2025. In the example, short SOL and long HYPE so that if the entire market drops, SOL should decline more, allowing the trader to cover the SOL short near the next potential bottom while averaging down the HYPE long, source: @ThinkingUSD on X, Nov 13, 2025. If price then bounces from that second low, re-enter the SOL short ideally at higher prices and trim the HYPE long, returning to the initial stance with improved capital efficiency, source: @ThinkingUSD on X, Nov 13, 2025. This relative value framework aims to hedge directional risk, smooth PnL, and preserve upside exposure to HYPE while tactically harvesting SOL weakness during market stress, source: @ThinkingUSD on X, Nov 13, 2025.