Bitcoin is currently flashing a significant buy signal, with a key price metric indicating that the asset is at its most ‘undervalued’ level since March 2023, when BTC was trading near the $20,000 mark. According to on-chain analysis, indicators such as the Market Value to Realized Value (MVRV) ratio or similar oscillators have dipped into levels historically associated with market bottoms and accumulation phases. This level of undervaluation was last observed during the regional banking crisis in early 2023, just before Bitcoin launched a massive recovery. Despite the current price being significantly higher than the $20,000 floor seen then, the metric suggests that the current market valuation is exceptionally low relative to the cost basis of long-term holders. Analysts suggest that this ‘reset’ in price metrics could signal the end of a cooling-off period, potentially setting the stage for a new bullish trend. While short-term volatility remains a factor due to macroeconomic pressures, the exhaustion of selling pressure and the return to these rare technical lows are being closely monitored by institutional investors looking for a strategic entry point.
Source: Bitcoin most ‘undervalued’ since March 2023 at $20K, BTC price metric shows
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