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Analyst: Bitcoin is in a historically undervalued range, with MVRV falling to the 5th percentile
PANews July 21 report: CryptoQuant analyst Darkfost said Bitcoin’s current MVRV percentile is around the 5th percentile—meaning that historically 95% of the time this metric has been higher than it is now. This suggests that the Bitcoin price, relative to its historical level, is in an extremely low range. MVRV is an indicator that measures the relationship between Bitcoin’s market cap and “realized value” (the price at which each BTC last moved). Darkfost’s method is not to look at the raw numbers alone, but to place the current MVRV within historical data rankings to determine the current price’s relative position in history. Previously, when BTC fell below $60,000 in February, the metric dropped to below 10%, and since June it has entered a similar range again. Historical data show that these periods often correspond to long-term bottom ranges.