Bitcoin most 'undervalued' since March 2023 at $20K, BTC price metric shows

Bitcoin onchain analysis eyed a potential end to the BTC price downtrend as its MVRV ratio returned to levels not seen in three years.

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.

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