Bitcoin ‘not undervalued yet,’ says research as BTC price drifts nearer to $16K By Cointelegraph

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© Igor Faun

(BTC) may not be at a good value enough for a macro price bottom, according to analysis from CryptoQuant.

In a blog post on Dec. 29, a contributor to the on-chain analytics platform flagged one BTC price indicator with further left to fall.

annotated chart with UTXO data (screenshot). Source: CryptoQuant
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView