CryptoQuant Analyst: BTC's Overall Market Index BCMI is approaching the high-confidence support zone, entering the value accumulation range

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ME News Report, April 17 (UTC+8), CryptoQuant analyst Woominkyu revealed that the Bitcoin Composite Market Index (BCMI) is testing a key historical pivot zone. Currently, the index has declined to the 0.2 to 0.3 range, indicating that Bitcoin is in a significantly undervalued area historically. The BCMI is composed of MVRV, NUPL, SOPR, and the Fear and Greed Index, with MVRV and NUPL accounting for 30% and 25%, respectively. The current market correction has brought realized value and investor sentiment back to lows not seen since early 2023. Meanwhile, the analysis points out that the downward trend continues, and it is necessary to wait for its slope to flatten to confirm that selling momentum is weakening and prices are stabilizing. (Source: MLion)

BTC4.06%
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