CryptoQuant: BTC's MVRV drops to 1.1, approaching the historical bottom undervaluation zone

Mars Finance News, CryptoQuant analyst Crypto Dan stated that Bitcoin's MVRV is currently at 1.1, approaching the historically significant undervalued zone that marks major market bottoms. If the price further drops to the low of $50k, MVRV may reach the fully undervalued level of 1. Historical data shows that this level has appeared three times at the bottoms of bear markets in 2015, 2019, and 2022, and has all served as the starting point for strong medium- to long-term rebounds.
BTC3.32%
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