Bitcoin’s Sharpe ratio has dropped to near zero, signaling potential market bottoms. Smart money tends to enter during low ratio periods, preceding long-term uptrends. Despite a recent 23% dump in BTC price, recovery has begun, reaching $89,000 on Monday. Significant BTC movements occurred only twice in the past seven years. Source: Glassnode

In the past week, over 8% of all Bitcoin was moved, a rare event that happened only during bear markets in 2018 and 2020. The recent BTC drawdown is considered one of the most significant onchain events in Bitcoin’s history. Despite a 23% drop, BTC has started to recover, reaching $89,000 on Monday.

Read more at Cointelegraph: Bitcoin Sharpe Ratio Hits Zero At Potential Market Bottom