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Live markets: A bitcoin bottom signal flashed as holders absorbed 125,000 BTC in June
Key takeaways
- The Sharpe ratio, which measures return against volatility, dropped to -20 on June 11, according to Crypto Quant data reviewed by Coin Desk.
- In all three cases, -20 marked the start of a long base rather than a launch.
- Meanwhile, Accumulator wallets, the addresses with a history of holding rather than selling, took in about 125,000 BTC in the first half of June.
The Sharpe ratio, which measures return against volatility, dropped to -20 on June 11, according to Crypto Quant data reviewed by Coin Desk. It hit that mark at the 2015, 2018-19 and 2022-23 cycle lows.
The catch is what came next. In all three cases, -20 marked the start of a long base rather than a launch. The metric stayed below the line for about five months in 2015 and roughly three months each in 2018-19 and 2022-23 before bitcoin began a durable recovery. So the signal can be interpreted as the floor is forming, not that the rebound has arrived.
Meanwhile, Accumulator wallets, the addresses with a history of holding rather than selling, took in about 125,000 BTC in the first half of June.
Article preview — originally published by CoinDesk. Full story at the source.
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