Bitcoin MVRV Z-Score Falls to 0.42 as Analyst Sees Undervaluation

CryptoQuant analyst Axel Adler Jr. said Bitcoin's MVRV Z-Score has fallen to about 0.42, roughly four times below its historical mean of 1.7, indicating the asset is in an undervalued range. According to ChainCatcher, the metric has not yet entered negative territory, suggesting the market has not seen the kind of capitulation selling often associated with cycle bottoms. Bitcoin's 7-day realized profit and loss has also turned positive after being negative, now standing at about $239 million, which suggests on-chain selling pressure has eased. The analysis said the market is in a phase of undervaluation and short-term stabilization, but it has not yet shown the capitulation signal typically needed to confirm a cycle bottom and still lacks a clear new demand driver.