▣ Is BTC going through a historic discount phase?
▣ Digital signals raise questions 📉
◉ BTC has experienced a strong price decline that pushed it into a low valuation range, classified among the areas typically recorded during intense selling situations, levels that are rarely reached except in exceptional periods.
◉ One of the most important chain indicators, the MVRV Z-Score, continued to decline over a full two years until it broke the -1 level, a historical signal previously associated with low pricing areas compared to the actual value of the asset.
◉ Conversely, investment products linked to BTC recorded a significant wave of outflows over a short period, with outflows exceeding 1.35 billion in just one week, reflecting a clear pressure on the market.
◉ On the level of general sentiment, the data shows a sharp decline in trader confidence, with the general mood returning to levels of pessimism similar to previous periods characterized by weak momentum and low demand.
⬤ Summary of the scene:
We are facing a phase where negative chain indicators intersect with liquidity decline and weak sentiment, a combination that has historically repeated at pivotal areas in BTC's trajectory.
