The reason why Bitcoin is not undervalued yet

The-reason-why-Bitcoin-is-not-undervalued-yet

Several cycle indicators among the on-chain data show that #BTC's price has already reached the undervalued area.
MVRV, NUPL, Puell Multiple, SOPR etc

These cycle indicators help understand the overall phase, but it is difficult to know the detailed buying time.
As an alternative to this, it is good to use the UTXOs in Profit and Loss indicators.

Of course, there are similar Supply in Profit Loss indicators, but if UTXO is used, a clearer BTC value can be evaluated.

Already in November, Lupin, an analyst at CryptoQuant, uploaded this concept to Quicktake.
When the UTXOs in Profit and Loss indicators were crossed, the floor was formed during the past three BTC Halvings

Currently, however, this indicator does not show a cross, and does not show that the BTC is undervalued.
It will provide a clear buying timing when the cross is generated.
Therefore, the BTC is likely to fall further, and spot hedging and down trend trading are required