After Bitcoin was turned back near $87,000, the on-chain MVRV metric fell below the 30th percentile—a range historically often seen as a period of relative undervaluation, meaning most holders’ unrealized gains have narrowed significantly. Notably, as accumulation signals emerged, ETF demand was cooling, while long-term holders continued distributing their holdings. With these forces offsetting each other, the sustainability of a rebound is questionable. Being undervalued doesn’t mean an immediate reversal; the key is when distribution will stop. Do you think this is a golden buying opportunity or just another leg down?
(Source: CryptoBriefing)
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