Cryptocurrency markets have undergone structural changes that may prevent most 
alternative digital assets from reaching their previous all-time highs.

Altcoins won’t recover previous highs: analyst

The CFTC is forming a high-profile Innovation Advisory Committee featuring 
leaders from Coinbase, Ripple, and other major crypto and exchange firms to 
shape rules for AI, blockchain, and evolving U.S. derivatives markets. US 
Markets on the Brink of Reinvention as CFTC Builds Dream Team for Financial 
Innovation The Commodity Futures Trading Commission (CFTC) announced on […]

CFTC Unveils All-Star Committee—Ripple and Coinbase Join Elite Roster Fueling Crypto Regulatory Breakthrough

Bitcoin is nearing a level on the MVRV ratio that historically lines up with 
market “undervaluation,” according to CryptoQuant contributor Crypto Dan, as 
traders look for signs that a four-month drawdown from October 2025’s all-time 
high is shifting from distribution into accumulation. Is Bitcoin Undervalued? 
In a post on X, Korean Dan said Bitcoin is “approaching the undervalued zone,” 
arguing that the market is getting close to a threshold that has often marked 
compelling risk-reward for longer-horizon buyers. Related Reading: Is The 
Bitcoin Bottom In? Leading On-Chain Analyst Sees A Floor Forming “After 
reaching its all-time high in October 2025, Bitcoin has been declining for 
approximately 4 months and is now approaching the undervalued zone,” he wrote. 
“Generally speaking, when the MVRV ratio falls below 1, Bitcoin is considered 
to be undervalued. The current value is around 1.1, which can be seen as being 
close to the undervalued zone.” The MVRV framing matters because the metric 
has tended to compress toward 1 around prior cycle lows. The chart shared 
alongside the post shows the ratio at roughly 1.10, with earlier sub-1.0 dips 
highlighted around past bottoming windows. Crypto Dan cautioned that traders 
shouldn’t assume the current setup will rhyme perfectly with prior drawdowns, 
specifically because the preceding advance looked different on valuation 
measures. “ However, unlike previous cycles, it is necessary to recognize that 
in this cycle, Bitcoin did not sharply rise all the way into the overvalued 
zone during the uptrend,” he wrote. “Accordingly, the pattern of the decline 
may also appear differently from the previous bottom zones, so it seems 
prudent to prepare for that possibility in our response.” That caveat became 
the focal point of a short back-and-forth in replies. One user, onlyus8x, 
suggested that if Bitcoin reached this cycle’s prior all-time high more than 
three times faster than before, the downturn could also resolve faster—“might 
the winter also pass 3 times faster?” Related Reading: Bitcoin Flashes Luna- 
Level Capitulation Signal at $67K, Not $19K Crypto Dan pushed back on a simple 
speed analogy, replying: “Because there are differences from your past, I 
personally set the criteria differently from past decline cycles by 
comprehensively judging these things as well.” Mayer Multiple And The 200-Week 
MA A separate post from analyst Will Clemente pointed to two long-watched, 
price-based benchmarks that are also pressing into historically constructive 
ranges. “Throughout Bitcoin&#8217;s life span we have seen two indicators continue 
to be the best global market bottom signals: The Mayer multiple (distance from 
200 day moving average) and the 200 week moving average,” Clemente wrote. 
“Both of these are clearly in long term accumulation territory.” The charts he 
shared show a Mayer Multiple around 0.60, alongside a backtest table that 
flags prior instances when the indicator fell to roughly that level. The same 
image placed Bitcoin’s 200-week moving average near $57,926, with Bitcoin 
shown about 15% above it and a note that it has “not yet touched” that line in 
the current drawdown. At press time, BTC traded at $67,277. Featured image 
created with DALL.E, chart from TradingView.com

Bitcoin Flirts With ‘Undervalued’ As MVRV Slides Toward 1

The market may have already reached its peak, with slow real-world adoption 
and mixed results from initiatives like El Salvador’s Bitcoin experiment.

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Grayscale has submitted an S-1 application to the Securities and Exchange 
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Cryptocurrency price in TWD