Bitcoin’s Conflicting Signals: Bull Trap Pattern, Negative Sharpe Ratio and LTH MVRV Levels

Bitcoin’s price action around $71K is drawing attention as analysts highlight a possible third bull trap pattern with key levels at $68K, $74K, and a potential move toward $62K. At the same time, Bitcoin’s Sharpe Ratio has turned negative and Long-Term Holder MVRV is drifting toward a historically important accumulation zone near 0.85. The coming 60–90 days may help clarify whether current conditions precede a deeper correction or a longer-term buying opportunity.