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>>Bitcoin is undervalued, according to Grayscale, though it lacks the extreme bargain appeal of previous cycles.

Bitcoin is undervalued, according to Grayscale, though it lacks the extreme bargain appeal of previous cycles.

crypthub

6/10/2026, 12:51:10 AM

Grayscale Valuation Insights

Grayscale research indicates that Bitcoin is currently trading below its long-term average, suggesting it is undervalued. However, the analysis noted that current price levels are not as low as those seen during previous bear market cycles, such as the FTX collapse in 2022. Using a composite on-chain indicator, Bitcoin appears to be selling at a significant discount compared to its historical norms.

Market Catalysts and Outlook

The short-term price action is influenced by two main factors: regulatory progress and the stability of leveraged BTC holders. Grayscale pointed to the movement of the Digital Asset Market Clarity Act (CLARITY) in the Senate as a key legislative development. Despite the current bear market sentiment, the firm suggests that long-term investors may view current prices as an opportunity for dollar-cost averaging purchases.

Institutional Selling Pressure

BTC recently faced intense selling pressure, falling about 21% over the last 30 days. This turmoil has been marked by significant outflows from major Bitcoin ETFs, including BlackRock funds. These prolonged outflows signal diminishing confidence among institutional investors during periods of high market volatility.