PANews reported on June 8th that CryptoQuant analyst Crypto Dan stated that Bitcoin's current Market Value to Realized Value (MVRV) ratio is 1.1, approaching the undervaluation range historically seen as a major market bottom. If the price further declines to the $50,000 level, MVRV could reach a fully undervalued level of 1. Historical data shows that this level appeared at the bottom of three bear markets in 2015, 2019, and 2022, and each time it became the starting point for a strong medium- to long-term rebound.