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Analysis: Bitcoin’s MVRV percentile has dropped to 5%. Historically, this has usually corresponded to the long-term bottom area.

MeNews
ME News, July 21 (UTC+8): CryptoQuant analyst Darkfost said that after Bitcoin fell below $60,000 in February and entered the capitulation zone, the MVRV percentile dropped below 10%, reaching the historically defined undervaluation range. Since June, the indicator has shown a similar trend again. Unlike the traditional MVRV indicator, the MVRV percentile measures the current MVRV’s position relative to historical cycles, and by adding a historical probability dimension, it can better reflect the current market environment. At present, BTC’s MVRV percentile is around 5%, meaning that about 95% of Bitcoin’s historical time has been at higher MVRV levels. This indicates that BTC is clearly undervalued compared with its historical evolution, and in similar stages in the past this often overlapped with long-term bottom ranges. (Source: BlockBeats)
BTC2.00%
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