Analyst: After stalling near $87,000, Bitcoin returns to historically undervalued territory, with accumulation signals still present

Cryptocurrency analyst Darkfost stated in a post that after Bitcoin encountered resistance around $87,000, the MVRV metric fell below the historical 30th percentile (25.7%), indicating that the market has reentered a transitional phase following capitulation selling. Darkfost further pointed out that this indicator does not simply measure the ratio of Bitcoin's market capitalization to its realized market capitalization, but instead compares current MVRV levels against their historical context. The current valuation level accounts for only about 25% of historical time, which still aligns with the characteristics of a market accumulation phase. However, Bitcoin has now moved out of the extremely undervalued range, which has historically coincided with market bottoms.