According to CryptoQuant’s BTC data, Bitcoin (BTC) has an MVRV ratio near 1.2, approaching the undervalued threshold below 1. (Ed. note: An MVRV below 1 indicates average holders are at a loss.)
BTC fell to $62,000 earlier this month and briefly reclaimed $71,000 before facing rejection. Data from CoinGecko shows BTC down 1.6% in 24 hours, 19% over 14 days, and nearly 30% versus the prior month.
Some market observers view current levels as a potential bottom and a buying opportunity. Other forecasts expect deeper losses toward $50,000, while Stifel projects a fall to $38,000.
According to CoinCodex analysts, BTC could reach $88,047 on May 11, 2026, implying roughly a 31.5% rally from current prices. Market participants remain cautious amid reported liquidity strains and ongoing macroeconomic uncertainty.
How prices move from here remains uncertain. Traders will monitor MVRV levels and macro data for clearer signals.
