Survey Reveals Majority of Investors View Bitcoin as Undervalued
- Over 70% of crypto investors believe Bitcoin (BTC) is undervalued, according to a Coinbase and Glassnode survey.
- 82% of institutions and 70% of non-institutions classify the market as in a late bear cycle markdown phase.
- 75% of institutions and 61% of non-institutions consider Bitcoin undervalued, with only a small percentage viewing it as overpriced.
- The Bitcoin Combined Market Index (BCMI) recently increased to a level historically associated with deep undervaluation phases.
- Short-term holder activity has decreased, with realized cap UTXO age bands for one-week to one-month holders falling to levels seen when BTC was near $27,000.
The survey indicates a significant shift in sentiment regarding Bitcoin’s market status, reflecting broader investor concerns about current valuations and market cycles. Onchain indicators support these views, suggesting that BTC may be entering a “value-accumulation zone.”
With approximately 75% of institutions viewing Bitcoin as undervalued, this sentiment underscores the potential for future price movements as the market stabilizes.(Source)
