Data compiled by Woofun AI shows that Bitcoin's Sharpe ratio has retreated to -20, a metric historically associated with market bottoms during the 2015, 2018-19, and 2022-23 cycles. Past instances indicate this signal typically precedes several months of consolidation rather than an immediate reversal, with the indicator remaining in the bottom region for approximately five months in 2015 and three months in subsequent cycles.

Meanwhile, on-chain activity reveals significant accumulation, with dedicated wallets absorbing roughly 125,000 BTC in the first half of June. Exchange reserves have declined by approximately 80,000 BTC since February to reach 2.71 million, while whales withdrew over 11,000 BTC in the past 24 hours. Although Bitcoin rebounded from $59,130 to $65,800 primarily due to the US-Iran agreement, the Federal Reserve's upcoming interest rate decision and Chair Warsh's inflation commentary will determine the sustainability of this recovery.