The exchange rates vary. They may be using something else to price the steem and likewise the bitcoin may be priced differently... For example I use bitstamp.net and many others may use something else and there are some differences.
Check Coinmarketcap.com and do the math and see if it gives you a similar number or the 166 steem for 1 btc?
RE: Why would I lose over $100 in Bitcoin converting to Steempower