BTC is 20% undervalued with a fair value of $76,400, says analyst

Cryptocurrency analyst David Eng argues that while Bitcoin (BTC) is in a bear market, its long-term cycle structure remains intact, Cointelegraph reported. He noted that BTC's movement is currently guided by two main trends: its 400-day moving average and its four-year cycle. Based on this cycle, Eng calculates Bitcoin's fair value at approximately $76,400, suggesting the current price is undervalued by about 20%. This situation does not imply a breakdown in Bitcoin's value structure but rather a temporary dip below its long-term adoption trendline, he explained. Eng added that BTC has historically followed a pattern of deviating from and eventually returning to this trendline. Separately, cryptocurrency analyst Rekt Capital projected that the current bear market is approximately 71% complete, with the downtrend potentially lasting for several more months.