Woofun AI data shows that Bitcoin's Sharpe ratio has dipped below -20, entering extreme negative territory before a slight rebound. This metric reflects the relationship between investment risk and return, with current negative values aligning with Bitcoin's third consecutive quarter of decline, including a 16.1% drop in the latest period. Historically, such phases lasting weeks to months correspond to bottom formation followed by price restarts, suggesting the market is approaching this long-term structural shift.