Bitcoin ‘not undervalued yet,’ says research as BTC price drifts nearer to $16K

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Bitcoin may not be good value enough for a macro price bottom, according to analysis from CryptoQuant.

) may not be at a good value enough for a macro price bottom, according to analysis from CryptoQuant.one BTC price indicator with further left to fall.At nearly 80% below all-time highs, BTC/USD is nearing the zone in which it bottomed during previous bear markets.pointing to the 2022 bear market bottom already forming.

CryptoQuant’s unspent transaction outputs in profit and loss indicator currently shows around 30% of transactions performed at a loss.

 

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