😱Brothers, don’t just stare at the K-line charts first! There’s an even tougher indicator quietly telling us something big!😱

BTC$BTC ‌From last night to now, the price action has indeed been grinding—early on June 7, it just touched 63,171, down from the previous day’s high of 64,692. A lot of brothers are starting to panic, thinking it’s about to dump all the way. But while everyone is watching the price, a key on-chain metric has just exploded!

Bitcoin’s 365-day Sharpe ratio has just fallen to -20! This is a level that hasn’t been seen since the end of 2022!

What is the Sharpe ratio? Put simply, it’s a metric that tells you how much profit you can earn for every unit of risk you take. Now that the reading has dropped to -20, it means that over the past year, investors have borne all of Bitcoin’s volatility, yet the returns they received were far lower than if they had bought U.S. Treasury bonds. When professional institutions see this data, they basically start pulling out.

But the reversal is here! Historically, the bear market bottoms in 2015, 2019, and 2022 were all accompanied by similarly extreme negative Sharpe ratios. After every bout of extreme pessimism, there’s been a major trend reversal.

CryptoQuant analysts also point out that this marks the moment of extreme seller exhaustion—when poor returns and high volatility drive away the last sellers, what remains are the most steadfast holders.

Of course, this doesn’t mean it will skyrocket tomorrow. Just like in 2022, after the indicator bottomed out, the FTX collapse prolonged the bear market for several more months. But signals of this magnitude are worth everyone’s attention.

On the chart, the 63,000 level is the bulls’ last line of defense. As long as it doesn’t break down decisively, there’s still a chance. Remember, a bottom is not a single point—it’s a range. In this range, it’s not about who nails the dip—the real question is who still has bullets left.

Brothers, do you think this Sharpe ratio bottom will become an all-time historical major bottom like the previous times? Let’s talk about your judgment in the comments👇

#BTC #比特币 #夏普比率 #On-chain data

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The above is for personal observation and sharing only and does not constitute any investment advice. The market is risky—decisions must be made with caution.