Bitcoin's Fair Value Estimated Between $48,000 And $95,000

According to BlockBeats, a recent analysis by CryptoQuant, as reported by CoinDesk, suggests that Bitcoin's fair value ranges between $48,000 and $95,000. This indicates that the current market price of Bitcoin might be overvalued. The analysis highlights a significant decline in the Bitcoin Network Activity Index, which has dropped 15% since its peak in November, reaching 3,760 points, the lowest level in over a year. This decrease is primarily driven by a substantial reduction in daily transaction volume, which has plummeted 53% from a record high of 734,000 transactions in September to 346,000 transactions.