Can someone correct me if I'm wrong on my understanding of Liquid Swap

Hi everybody. So I added 32 LINK (only single asset) into the LINK/BTC liquid swap pool. I checked the pool and I noticed that if I were to redeem today, whether I redeem it as dual asset or single asset, I will be down 10%. I will only get 29 LINK back. Both BTC and LINK recovered approximately 80~100% in the past month since put it in the pool so how did I incur an impermanent loss of 10% (3 link)? If based on the $BALLER app, if both assets move up relatively closely, shouldnt I only incur an impermanent loss of around 1%? Or did I misunderstand the concept of LP? Can someone please correct me if I have misunderstood smth?