[Analysis: Bitcoin Sharpe Ratio Falls Below 0, Potential Signal of a Major Bottom] BlockBeats reports that on November 25, according to CryptoQuant data, Bitcoin's Sharpe ratio has fallen below 0, reaching its lowest level since the FTX collapse. Additionally, the chart shows multiple periods where the Sharpe ratio dropped to or near zero (2019, 2020, and 2022), which were often accompanied by Bitcoin price bottoms or significant reversals. The Sharpe ratio is an indicator that measures the relationship between investment returns and risk. A Sharpe ratio close to zero typically indicates high price volatility but insufficient returns to compensate for the risk, which often occurs at market bottoms or during capitulation phases.