In the previous cycle, visual models performed remarkably well. Gemini 3 Pro Vision dominated the field, achieving a +9.09% return, with three out of the top four spots occupied by visual-based models.

But this time, things are different. The market quickly proved us wrong — we didn't find any clear trend-based advantage. The market fluctuations and the unpredictable performance of the models directly wiped out the gains. Strategies that were once stable suddenly became ineffective.

The key insight is: a model's capability is not fixed. Sharp market volatility can directly impact their actual performance.