BlockBeats news, on July 21, according to a post by CryptoQuant analyst Darkfost, after Bitcoin fell below $60,000 in February and entered the surrender zone, the MVRV percentile dropped below 10%, reaching a historically defined undervalued region. Since June, this indicator has shown a similar pattern again.
Unlike the traditional MVRV indicator, the MVRV percentile measures the current MVRV relative to its historical cycles, incorporating a historical probability dimension to better reflect the current market environment.
The current BTC MVRV percentile is approximately 5%, meaning that Bitcoin has been at a higher MVRV level for about 95% of its history. This suggests that BTC is significantly undervalued compared to its historical evolution, and similar phases have often coincided with long-term market bottoms.

