BlockBeats News, July 21st, according to CryptoQuant analyst Darkfost, after Bitcoin fell below $60,000 in February and entered the surrender zone, the MVRV percentile dropped below 10%, reaching the historically defined undervaluation zone. Since June, this indicator has shown a similar trend once again.

Unlike the traditional MVRV indicator, the MVRV percentile measures the current MVRV relative to the historical cycle, incorporating a historical probability dimension to better reflect the current market environment.

Currently, the BTC MVRV percentile is around 5%, indicating that Bitcoin has been at a higher MVRV level for about 95% of its historical time. This shows that BTC is significantly undervalued compared to its historical evolution, and similar stages have historically coincided with long-term bottom areas.