CryptoQuant: BTC's MVRV has dropped to 1.1, approaching the historically undervalued range

CryptoQuant analyst Crypto Dan pointed out that the Bitcoin MVRV is currently 1.1, which is close to the historically significant undervaluation range marking major market bottoms.

If the price further dips to the low of $50,000, the MVRV may reach the fully undervalued level of 1. Historical data shows that this level appeared at the bottoms of bear markets in 2015, 2019, and 2022, and each time became the starting point for a strong medium to long-term rebound.