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Bitcoin is nearing a level on the MVRV ratio that historically lines up with market undervaluation, according to CryptoQuant contributor Crypto Dan, as traders look for signs that a four-month drawdown from October 2025’s all-time high is shifting from distribution into accumulation. Is Bitcoin undervalued? In a post on X, Korean Dan said Bitcoin is approaching the undervalued zone, arguing that the market is getting close to a threshold that has often marked compelling risk-reward for longer-horizon buyers. After reaching its all-time high in October 2025, Bitcoin has been declining for approximately 4 months and is now approaching the undervalued zone, he wrote. Generally speaking, when the MVRV ratio falls below 1, Bitcoin is considered to be undervalued. The current value is around 1.1, which can be seen as being close to the undervalued zone. However, unlike previous cycles, it is necessary to recognize that in this cycle, Bitcoin did not sharply rise all the way into the overvalued zone during the uptrend. The pattern of the decline may also appear differently from the previous bottom zones, so it seems prudent to prepare for that possibility in our response. Mayer Multiple And The 200-Week MA section notes that two price-based benchmarks—Mayer multiple (distance from the 200-day moving average) and the 200-week moving average—continue to point toward long-term accumulation territory. At press time, BTC traded at $67,277.
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