#btc 🤑 CryptoQuant data shows that Bitcoin's MVRV Z-Score is around 0.42 While its historical average is around 1.7, this shows that Bitcoin is still trading below its historical valuation average. Despite the decrease in selling pressure, this index has not yet entered the negative range; The range that in previous cycles was usually associated with the complete submission of sellers and the formation of the main market floors Overall, such data reinforces the possibility of a bottom approach, but does not yet provide a definitive signal for the start of a strong uptrend.
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