Bitcoin (CRYPTO: BTC) tapped $65,000 on Wednesday as several on-chain indicators flash the strongest accumulation signal since the 2022 bear market.
Bitcoin Enters Historically Undervalued Zone
In a Milk Road interview on July 14, Bitcoin Magazine Pro analyst Matt Crosby said Bitcoin may still revisit lower levels, but current valuations create an "asymmetric opportunity" as technical, fundamental and macro indicators converge near historically important support zones.
Bitcoin recently dropped to a range between $57,000 and $58,000, placing its valuation in the bottom 5% of historical readings.
The comparable readings appeared near the 2018 bear market bottom, March 2020 COVID-19 crash and 2022 bear market lows.
