- CryptoQuant announced that Bitcoin's NVT indicator has fallen below -1.6, entering an undervalued state.
- An analysis suggests that Bitcoin's NVT indicator has a high likelihood of regressing to the mean value, making it a buying opportunity.
- Along with positive news from the U.S., Bitcoin surged past $106,000 during the day, showing an upward trend.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
An analysis has emerged suggesting that Bitcoin (BTC) has entered an undervalued state.
On the 24th, the on-chain data analysis platform CryptoQuant stated, "When the Bitcoin NVT (Network Value to Transaction) indicator falls below -1.6, it is considered undervalued," adding, "This signal has just occurred. There is a high likelihood of regression to the mean value, making now a buying opportunity."
The NVT indicator is the value obtained by dividing the market capitalization of the coin by the total amount of coins traded. Typically, a value above 2.2 is interpreted as overvalued, and below -1.6 as undervalued.
On this day, Bitcoin surged past $106,000 during the day, buoyed by positive news such as U.S. President Donald Trump's signing of a virtual asset executive order and the U.S. Securities and Exchange Commission's announcement of the repeal of SAB-121. It is currently trading at $103,800 on the Binance Tether (USDT) market, up 0.2% from the previous day after giving back some of its gains.

Doohyun Hwang

cow5361@bloomingbit.ioKEEP CALM AND HODL🍀PiCK News
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