The data show that Bitcoin has surpassed the main capital rates in the Sortino relationship. This is what this says about cryptocurrency performance.
Bitcoin’s sortino ratio is currently in 1.23
In a new one mail In X, the Institutional Supplier of Soluciones Defi Findo (previously Endotheblock) has talked about Bitcoin’s Sortino relationship. The “Sortino relationship” is an indicator similar to the Sharpe relationship, which compares the returns of an asset against its volatility.
The Sharpe relationship takes “volatility” or the risk involved with the asset as the standard deviation of yields for a certain period. Keep in mind that the indicator does not differentiate between positive and negative returns. This is where the Sortino relationship differs.
The Sortino relationship only takes the standard deviation of negative yields, with the aim of capturing only the ‘harmful’ volatility. As a result, the value of the metric tells us how the returns of an asset are stacked against the downward risk associated with it.
Now, here is the table shared by the analysis firm, which shows how the 30 -day Sortino ratio seeks Bitcoin, as well as other assets and indexes:
The metric's value seems to be the highest for BTC at the moment | Source: Sentora on X
As is visible in the previous graph, Bitcoin’s Sortino ratio has recently remained in 1.23, which implies that the assets of the asset during the past month have exceeded their volatility down.
It is also evident that the same has been true for Ethereum and the indexes listed in the table also, but clearly, BTC has come out at the top compared to all of them. The only one that is approaching is ETH, a cryptocurrency, with its metric in 1.18.
In other news, the whale population in the Bitcoin network has recently resumed growth, such as the Glassnode chain analysis firm has shared in an X mail.
The “whales” in the context of BTC refer to entities that have 1,000 or more coins. Here is a table that shows the trend in the number of investors of this size that exist in the block chain:
Looks like the indicator took a hit last month | Source: Glassnode on X
As shown in the table, the number of Bitcoin investors the size of a whale saw a decline phase in April, a sign that some of the great money investors left the cryptocurrency.
This month, however, the metric resumed an upward trend and has continued to rise even with the price of the asset reaching a new historical maximum (ATH). At present, there are 1,455 whales entities in the block chain.
Note that the ‘entities’ here do not simply refer to individual addresses with 1,000 or more BTC. Rather, an ‘entity’ is a group of addresses that the analysis company has determined to belong to the same investor through its analysis.
BTC price
At the time of writing, Bitcoin is floating around $ 109,700, 3% more in the last seven days.
The trend in the BTC price during the past five days | Source: BTCUSDT on TradingView
Outstanding image of Dall-E, Glassnode.com, Intotheblock.com, tradingView.com Chart
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