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According To A Cryptoquant Quicktake

The MVRV Z-score, an indicator that assesses the relative position of market value to realized value, shows significant drops: -116% over three months, -94% over two

According to a CryptoQuant Quicktake post published today, Bitcoin (BTC) may still be undervalued based on several on-chain metrics. Crypto on-chain analyst

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Bitcoin price is still undervalued, MVRV indicator shows