Ethereum's MVRV-Z score has decreased to -0.42, suggesting that the asset might be undervalued and approaching a market bottom. According to NS3.AI, analysts from Alphractal note that Ethereum is currently in a capitulation phase, although it has not yet hit the historic lows observed in 2018 and 2022. Trader Michaël van de Poppe points out that the current levels are similar to previous bottoms, indicating a possible buying opportunity amid the existing market fear.

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