Is Bitcoin Cheap? Grayscale Weighs in
Analysis
Price Impact
MedGrayscale's analysis suggests bitcoin is undervalued based on on-chain data, but not at a deep discount. this implies potential for a rebound but suggests the bottom might not be immediate, leading to a moderate impact.
Trustworthiness
HighPrice Direction
BullishThe report indicates bitcoin is undervalued based on on-chain metrics, suggesting a potential upward trend once market sentiment shifts, especially if key catalysts materialize.
Time Effect
LongThe analysis refers to long-term valuation benchmarks and previous market crashes, indicating that the undervaluation and potential recovery are viewed through a longer-term perspective rather than an immediate short-term surge.
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Cover image via www.freepik.com A shallower bear market? Key catalysts to watch Advertisement With Bitcoin recently sliding below the critical $60,000 threshold to hit a new cycle low , the cryptocurrency market is filled with questions about whether the asset has finally bottomed out. In a recent market intelligence report, Grayscale tackled the pressing question: Is Bitcoin cheap yet? According to Grayscale's analysis, the answer is a cautious yes. Onchain data points to an undervalued asset, but prices have not yet reached the deep discount levels seen during previous market crashes, such as the post-FTX collapse. HOT Stories XRP Perpetual Contracts Officially Go Live on Kalshi Shiba Inu (SHIB), XRP, Dogecoin (DOGE) and Bitcoin Price Analysis for June 9: What Can Heal Cryptocurrency Market? Grayscale utilizes a composite on-chain valuation indicator to gauge Bitcoin's market standing. This indicator is a weighted average of three distinct measures: Advertisement The aggregate unrealized profit or loss of Bitcoin holders relative to their onchain cost basis. Bitcoin's price relative to a long-term valuation benchmark based on coin-days destroyed. When combining these metrics, the composite indicator indicates that Bitcoin's current price sits well below its long-term average. Advertisement A shallower bear market? Despite the recent price drop, Grayscale's research indicates that the current bear market could be shallower than those experienced in the past. This optimism boils down to such factors as a muted bull market and improved market structure. You Might Also Like Sun, 06/07/2026 - 08:04 'Lost' 2011 Bitcoin Suddenly Moves By Alex Dovbnya Key catalysts to watch Whether the market has truly found its bottom depends heavily on the latest developments surrounding the CLARITY Act. The progression of this critical regulatory framework through the Senate could have massive implications for market sentiment. The amount of leverage should also be taken into account. The ability of large, leveraged Bitcoin holders to stabilize their balance sheets will be crucial in preventing further forced liquidations and downward price pressure in the short term. #Bitcoin News