Risk-adjusted basis
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X @Michaël van de Poppe
Michaël van de Poppe· 2026-02-21 06:52
This is a phenomenal chart.It shows the Sharpe Ratio for #Bitcoin in the short term.The key takeaway: the Sharpe Ratio has dropped to -38.38, which historically has marked "Low Risk" accumulation zones. The red circles highlight every time the Sharpe Ratio dipped to similar deeply negative levels; early 2015, early 2019, late 2022; and each of those moments preceded major bull runs.The pattern is clear:Every time the short-term Sharpe Ratio crashes this low, it signals that Bitcoin has been underperforming ...