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Today's analysis of Bitcoin in the cryptocurrency market shows that the Mayer Multiple is 0.98, indicating that the BTC trading price is below its 200-day moving average, suggesting it is undervalued.
The 7-day MVRV ratio has risen to 2.38%, indicating that short-term holders are realizing moderate profits, but still below the key bullish threshold of 5%.
BlackRock has purchased 2,660 Bitcoins, marking the largest inflow in six weeks, indicating increasing institutional confidence in Bitcoin.
Despite recent volatility, Bitcoin (BTC) still shows signs of a potential reversal, as key on-chain indicators and institutional flows suggest that market sentiment is improving. The Mayer Multiple remains below 1, indicating that it is undervalued.
Meanwhile, institutional confidence appears to be recovering, with BlackRock recently purchasing 2,660 BTC, the largest inflow into its Bitcoin ETF in six weeks. As the market stabilizes and adapts to macroeconomic pressures, the path for Bitcoin to reach new highs is beginning to take shape.
