4
Bitcoin (BTC) is approaching “undervalued” territory for the first time in three years as a classic indicator nears its inflection point.
Key points:
-
Bitcoin has not been so “undervalued” versus its market cap since March 2023, research shows.
-
The MVRV ratio is approaching its key breakeven level for the first time in over three years.
-
MVRV analysis sees Bitcoin in the process of reversing its downtrend.
Bitcoin value metric echoes $20,000 price
Research from onchain analytics platform CryptoQuant…
