Bitfinex Alpha | Bitcoin Buying Opportunities Emerge as Interest in Alts Spread
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Currently, two important Bitcoin on-chain metrics signal a potentially advantageous buying opportunity. The Market Value to Realised Value (MVRV) measure, alongside the Open Interest (OI) weighted funding rate, hint at a potential entry point for investors. The OI-weighted funding rate went positive last week, indicative of an increased appetite for long positions. Furthermore, the MVRV ratio, currently at 2.21, suggests Bitcoin might be undervalued, especially as historical patterns show substantial returns when MVRV dips below its 90-day average.