🚨 CryptoQuant: Undervalued ETH Attracting ETF Buyers, Potential Market Rebound Ahead
@cryptoquant_com reports that ETH's MVRV ratio relative to BTC has dropped to its lowest since 2019, signaling it may be undervalued. Historically, ETH tends to outperform BTC from such levels.
📊 ETH/BTC ETF allocations have risen significantly since late April, reflecting institutional optimism driven by the upcoming Pectra upgrade and improved macro conditions. On-chain data shows reduced sell pressure and increased ETH volume.
🔄 ETH/BTC has already rebounded 38% from its Jan 2020 low, sparking renewed bets on ETH’s bottom and the potential start of a new altcoin season.