Bitcoin’s value is nearing undervalued territory, with the MVRV ratio hitting its lowest level since 2023. Research from CryptoQuant shows that values below 1 suggest undervaluation, with BTC dropping below $60,000. Analysts believe the current decline may differ from past market bottoms, indicating a potential trend reversal.

Recent data shows that Bitcoin’s Z-score of the MVRV ratio has fallen to historic lows, lower than previous bear market bottoms. Analysts suggest that BTC/USD is in a “capitulation zone,” signaling a potential bottom of the downtrend. The statistical deviation of the Z-Score points to an opportunity for accumulation.

Read more at Cointelegraph: Bitcoin Price Metric Sees ‘Undervaluation’ As It Taps Three-Year Lows