TechFlow News: On April 17, CryptoQuant analyst Woominkyu analyzed that Bitcoin’s Composite Market Index (BCMI) is currently testing a key historical pivot zone, having declined into the 0.2–0.3 range—indicating that BTC is in one of its historically deepest undervaluation zones. The BCMI comprises MVRV (30% weight), NUPL (25% weight), SOPR, and the Fear & Greed Index. This correction has reset both realized value and investor sentiment to levels not seen since early 2023. Meanwhile, the 90-day simple moving average (SMA) remains in a downtrend; confirmation of selling pressure exhaustion and price stabilization will require the SMA slope to flatten.
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