Биткоин всё еще в неопределенности: Эксперты указывают на продолжающееся недовольство и потенциальные потери Headline: Bitcoin Still in Uncertainty: Experts Highlight Ongoing Discontent and Potential Losses

The market valuation of the leading cryptocurrency is lagging behind its actual network activity, and the search for a price bottom has yet to conclude. This was reported by experts from the Checkonchain platform alongside analyst MorenoDV.

According to the researchers, 38% of the digital gold supply is in an unrealized loss, akin to the figures seen in mid-2021.

Experts highlighted the significance of the $81,000 mark, representing the average purchase price for spot Bitcoin ETFs and the True Market Mean. Analysts emphasized that there is no indication yet of a final capitulation among investors in the market.

MorenoDV drew attention to the NVT Golden Cross indicator, which assesses the network’s value relative to transaction volume. This is analogous to the classic P/E ratio, where the company’s earnings are replaced by the economic activity occurring in the blockchain.

Previously, the indicator had dropped to -0.58, a level that indicated not so much market pessimism as it did the fundamental undervaluation of the asset. Currently, the value has risen to -0.32.

The analyst believes that prices are gradually aligning with metrics, yet Bitcoin continues to trade at a discount. The market is moving from a state of deep overselling toward equilibrium—historically, this phase is accompanied by active position accumulation.

It is worth noting that Vetle Lunde, head of the research department at K33 Research, stated that long-term Bitcoin holders have nearly completed the phase of active selling.