Bitcoin Nears Historical Bear Market Bottom Zone as MVRV Z Score Hits 0.38

Bitcoin has fallen nearly 50% since October, with several valuation metrics now signaling a potential final phase of the selloff, Bloomberg reports. The MVRV Z Score has declined to about 0.38, a level that has historically indicated undervaluation, while key support levels are clustered around a realized price near $54,000 and the 200-week moving average close to $58,000. Bloomberg highlights a possible bottom area between $45,000 and $55,000, though any durable rebound would depend on fresh demand. Spot Bitcoin ETFs have recorded more than $1.6 billion in net inflows over the past month, led by BlackRock's IBIT and VanEck's HODL.