Bitcoin is nearing a level on the MVRV ratio that historically lines up with market “undervaluation,” according to CryptoQuant contributor Crypto Dan, as traders look for signs that a four-month drawdown from October 2025’s all-time high is shifting from distribution into accumulation.
Is Bitcoin Undervalued?
The MVRV framing matters because the metric has tended to compress toward 1 around prior cycle lows. The chart shared alongside the post shows the ratio at roughly 1.10, with earlier sub-1.0 dips highlighted around past bottoming windows.
Crypto Dan cautioned that traders shouldn’t assume the current setup will rhyme perfectly with prior drawdowns, specifically because the preceding advance looked different on valuation measures. “
That caveat became the focal point of a short back-and-forth in replies. One user, onlyus8x, suggested that if Bitcoin reached this cycle’s prior all-time high more than three times faster than before, the downturn could also resolve faster—“might the winter also pass 3 times faster?”
Crypto Dan pushed back on a simple speed analogy, replying: “Because there are differences from your past, I personally set the criteria differently from past decline cycles by comprehensively judging these things as well.”
Mayer Multiple And The 200-Week MA
At press time, BTC traded at $67,277.
