Live markets: A bitcoin bottom signal flashed as holders absorbed 125,000 BTC in June
Hex37's read
- Bitcoin's Sharpe ratio hit a level signaling cycle lows.
- This signal has preceded months of basing in past cycles.
- Holders absorbed 125,000 BTC in June.
What it means for traders
- The current Sharpe ratio suggests a potential bottom, but expect a period of consolidation rather than a sharp immediate rise.
- Accumulation by holders indicates strong conviction, potentially setting the stage for future upward movement after the basing period.
Affected markets
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