Bitcoin's stress cycle is approaching its end, but there are no signals of a full market reversal yet. This was stated by analysts from the CryptoQuant platform. According to their data, this is indicated by a combination of two key indicators — the short-term Sharpe Ratio (Sharpe Ratio) and the buy/sell pressure delta. Specifically, the Sharpe Ratio has fallen to around -40. In previous cycles — in 2015, 2019, 2020, and 2023 — such values coincided with the formation of long-term entry points. This, according to experts, signals a significant undervaluation of the asset, the statement says.