Bitcoin Risk-Reward Metrics Weaken as Miner Outflows Drop Since October

Bitcoin fell below $105,000 on Tuesday as its annualized Sharpe Ratio and Normalized Risk Metric declined, signaling weakening risk-reward balance. Miner outflows have steadily decreased since late October, indicating reduced selling pressure that may support near-term recovery. Analysts note the pattern could reflect improved miner sentiment and a neutral-to-bullish short-term setup.