Ethereum Sharpe ratio negative; 30-day returns fall below zero on Binance

Ethereum holds near $2,000. CryptoQuant shows its risk-adjusted returns below zero.

A CryptoQuant report on Binance data flags a Sharpe-like ratio near -0.0012 and a 30‑day average return at -0.00039. Both are negative. Together they indicate holders are taking more risk than the asset is paying back.

Ethereum is stable around $2,000, but stability is not strength. The report frames this as a transition phase with reduced speculation, weaker liquidity, and sideways action. It does not signal direction yet.

Price structure remains compressed. The February selloff set a range. Trading sits inside it.

Key levels and context:
- Range tightens between $1,850 and $2,200, per the chart in the article
- Rejection near $2,300 on bounce attempts
- Repeated defense at $1,850–$1,900
- Price below the 50D and 100D MAs, both sloping down
- 200D MA near $3,000 acts as overhead resistance
- Volume spiked on the selloff, then normalized

A move above $2,200 would mark a momentum shift. A loss of $1,850 risks another leg down. The report adds that negative risk-adjusted returns can precede capitulation or a reset (CryptoQuant analysis).