Bitcoin Eyes $80,000 Rebound as On-Chain data Signals Undervaluation
Seoul, South Korea – Bitcoin ($BTC) is poised for a potential short-term rebound, with analysis indicating a high probability of price recovery around teh $80,000-$85,000 range, equivalent to 108 million to 114.75 million Korean Won. Multiple indicators suggest the cryptocurrency might potentially be currently undervalued following recent market dips.
The confluence of signals-including a noteworthy blockchain network valuation, a “captulation model” mirroring past rebound cycles, and analysis from industry figures-points to a possible bottom. This comes as fear and resignation grip the market, frequently enough preceding critically important price reversals. The potential rebound could impact a broad range of investors, from retail traders to institutional holders, and influence the broader cryptocurrency market.
According to proprietary analysis from Astronomer, its ‘Weekly Captulation Volume Model’ has accurately predicted rebounds after three consecutive weeks of negative candles with high trading volume – a pattern currently unfolding. This model historically signals a transition into a strong rebound phase. Former Binance co-founder arthur Hayes similarly forecasts support formation between $80,000 and $85,000, citing increased global liquidity and recovering on-chain indicators.
Further bolstering the bullish outlook is an indicator known as the NVT Golden Cross, which uses network value to identify undervalued assets. This indicator currently signals that Bitcoin’s market capitalization is excessively undervalued, suggesting a potential buying chance.
while analysts caution against predicting a mid- to long-term rise, they recommend closely monitoring the weekly closing price trend and watching for movement within the $80,000 to $85,000 range as a key indicator.
