Citing Bitcoinist, recent on-chain data suggests Bitcoin may be showing signs of recovery, with key indicators like the Sharpe Ratio and Bitcoin Heater entering favorable zones. The Sharpe Ratio has dropped below zero for the first time since mid-2023, signaling improved risk-adjusted returns, while the Bitcoin Heater has hit its lowest level since November 2022, indicating a bullish trend. Analysts note these signals resemble those seen before major bull runs in 2019, 2020, and 2022, though some caution that the recovery could be a short-term 'Dead Cat Bounce.'
Bitcoin Shows Signs of Recovery Amid Sharpe Ratio and Bitcoin Heater Signals
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