As per Bijié Wǎng, Bitcoin's MVRV ratio has dropped to 1.8, a 7-month low, suggesting potential undervaluation and early accumulation. The decline aligns historically with buying zones and local bottoms, indicating a possible early phase of a new accumulation cycle. Meanwhile, the Miner Positioning Index (MPI) has surged, reflecting increased miner confidence and strategic repositioning rather than forced selling. The Network Value to Transaction (NVT) ratio has also fallen 8%, signaling improved network health and stronger on-chain utility. Combined with a 33% rise in the Stock-to-Flow (S2F) ratio, these metrics suggest Bitcoin's fundamentals remain robust despite recent price consolidation.
Bitcoin MVRV Ratio Hits 7-Month Low, Signals Potential Undervaluation
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