CryptoQuant has discovered that the price of Bitcoin might currently be overvalued.
In a recent report, it indeed presents data from a metric that suggests that the real interest at this moment might be even lower than commonly perceived.
At the same time, however, there are also other metrics that suggest the exact opposite.
The possibly overvalued price of Bitcoin
The CryptoQuant report is based on the analysis of the so-called Bitcoin Network Activity Index, which measures the level of on-chain activities of BTC.
Currently, this index is at the lowest level of the last 12 months, with a decrease of 15% compared to the all-time high of November 2024.
The current value is about 3,760 points, and it turns out to be the lowest level since February 2024.
Using Metcalfe valuation ranges, a fair value for the current price of Bitcoin would be within a wide range between $48,000 and $95,000, according to data from network activity.
In fact, CryptoQuant writes:
“A
We współpracy z: https://en.cryptonomist.ch/2025/02/07/bitcoin-on-chain-activity-at-a-minimum-and-price-possibly-overvalued/
