Bitcoin MVRV indicator hits lowest level since FTX collapse

The Bitcoin MVRV indicator has fallen to levels last seen just after the collapse of FTX in 2022, a development worth noting as a similar instance was followed by a 67% price surge over three months, according to Santiment. Glassnode has also detected early signs of stabilization, citing renewed ETF inflows and a recovery in spot demand. However, analysts see limited potential for a short-term surge, anticipating several more months of sideways movement before any major price action. MVRV is an on-chain metric that indicates how overvalued or undervalued an asset's market value is relative to its realized value.