BEARISH 📉 : Prediction market sees ETH losing No. 2, metrics flag 40% downside
CryptoQuant sees ETH getting cheap. But on‑chain bands still point lower.
ETH MVRV slips to 0.9. Analyst Burak Kesmeci says on-chain data now shows relative undervaluation for Ethereum. MVRV below 1 means many holders sit at a loss.
He warns about the next leg. The Realized Price Bands put the lower band near $1,152. That’s over 40% below spot, per CryptoQuant. In past bears, price gravitated to that band. A related explainer is referenced here.
“MVRV has a habit of pushing down to 0.5 and below during full bear cycles… Ethereum can dive into much colder waters from here.” Source.
- MVRV at 0.9 signals rising undervaluation CryptoQuant.
- Realized lower band ~$1,152 implies more downside risk CryptoQuant.
- ETH remains at risk even after a ~60% drawdown from cycle high NewsBTC.
Market odds shift. A Polymarket market reportedly priced a 57% chance that ETH loses the No. 2 spot by value, with BNB the closest non‑stablecoin competitor in cap terms. No direct source link was provided in the material.
