Analyst: Bitcoin has returned to the historically undervalued range after being blocked near $87,000, and accumulation signals still exist

Cryptocurrency analyst Darkfost stated that after Bitcoin encountered resistance around $87,000, the MVRV indicator has fallen below the historical 30th percentile (25.7%), indicating that the market has re-entered a transitional phase after experiencing a capitulation-style sell-off.

Darkfost further pointed out that this indicator does not simply measure the ratio of Bitcoin's market value to its realized value, but rather compares the current MVRV level against the historical context of its evolution. The historical time proportion corresponding to the current valuation level is only about 25%, which still aligns with the characteristics of the market accumulation range. However, Bitcoin has moved away from the extremely undervalued range, which has historically coincided with market bottoms.