CryptoQuant's analysis indicates that Ethereum (ETH) has entered a zone of extreme undervaluation against Bitcoin (BTC), a condition not seen since 2019. This could set the stage for a repeat of past market behavior, where undervalued ETH often led to strong outperformance in the following months.
The ETH/BTC MVRV (Market Value to Realized Value) ratio has dropped below the historical threshold, previously signaling periods of significant undervaluation for Ethereum.
The chart highlights multiple past instances—marked with red circles—where the ratio dipped into the green undervaluation zone. On each occasion, this signaled key turning points. After touching the undervalued levels, Ethereum began outperforming Bitcoin for several months.
Currently, the ETH/BTC exchange rate is around 0.04, and the MVRV ratio has fallen to levels lower than its 365-day simple moving average.
CryptoQuant points out that historically, these levels provided excellent asymmetric opportunities for those seeking to capitalize on ETH's undervaluation. However, the analysis also carries a note of caution.
Despite the strong signal of undervaluation, the report warns that persistent "supply pressure, weak demand, and flat activity" could hinder or delay a swift price recovery in the coming months.
Without a surge in network usage or capital inflows, Ethereum could remain suppressed in the undervalued zone, even at attractive valuations. This could open up opportunities for those with a long-term bullish outlook on Ethereum.
免責事項:info@kdj.com
提供される情報は取引に関するアドバイスではありません。 kdj.com は、この記事で提供される情報に基づいて行われた投資に対して一切の責任を負いません。暗号通貨は変動性が高いため、十分な調査を行った上で慎重に投資することを強くお勧めします。
このウェブサイトで使用されているコンテンツが著作権を侵害していると思われる場合は、直ちに当社 (info@kdj.com) までご連絡ください。速やかに削除させていただきます。
