Bitcoin hits historically low-risk accumulation zone as Sharpe and MVRV-Z indicators weaken

Bitcoin’s price has stayed between $85,000 and $90,000 in early 2026 while on-chain and risk metrics move into historically low-risk zones. The Sharpe Ratio has turned negative and the two-year MVRV-Z score has dropped toward past bottom regions, as long-term holder selling slows and exchange reserves fall to about 2.5 million BTC. These conditions may support continued accumulation and set the stage for a potential rebound, though a strong upside move could be limited until overall market capitalization expands further.