Bitcoin Is Wildly Undervalued, Says Bitwise: ‘Fair Price’ Today Is $230,000
Bitcoin's price is approaching a critical point, with researchers at Bitwise Asset Management estimating its fair value at around $230,000, reflecting a 110% premium over the current market price of approximately $109,600. This valuation is linked to rising sovereign-risk hedges and concerns over the US fiscal deficit, with Bitcoin seen as a decentralized asset providing portfolio insurance against defaults. Market sentiment is bullish, supported by a positive Cryptoasset Sentiment Index and increased institutional inflows, including $525 million into US spot Bitcoin ETFs. On-chain data shows a decrease in exchange reserves and slower profit-taking. Despite potential short-term volatility from headline risks, structural factors favor upward momentum for Bitcoin, which is nearing its all-time high of $112,000.
