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CryptoQuant analyst Crypto Dan stated that as BTC drops to around $60k, the market has entered the historical "Cheap Zone." The current MVRV indicator is approximately 1.1, and if the price further declines to around $53k to $55k, the MVRV indicator may approach levels corresponding to previous bear market bottoms. From a cyclical perspective, the current price already has relatively high long-term allocation value, but the short-term market may still further decline.