Bitcoin valuation reaches a historic low, marking the exhaustion of downward potential

glassnode stated that the Bitcoin "Yardstick" indicator has reached an all-time low, significantly below previous bottoms, indicating that Bitcoin's price is severely undervalued relative to network security (hash rate).

Historical data shows that such extreme lows often mark the convergence of exhausted downside potential and long-term opportunities, and in similar past situations, Bitcoin's price typically experiences a significant rebound. Note: The Bitcoin "Yardstick" indicator was developed by Capriole Investments and is defined as Bitcoin's market capitalization divided by hash rate, normalized over 2 years of data, similar to a stock's price-to-earnings ratio, used to assess Bitcoin's valuation.