At the end of April, the NVT Price indicator showed the basically justified price of the first cryptocurrency at $45,000, which is roughly $7,000 higher than the market price. This is noted in the ForkLog report.

The chart shows that the trends started to diverge from the beginning of the month on the backdrop of the market correction.

The metric indicated bitcoin’s undervaluation, but the cryptocurrency continued to decline. On May 10, digital gold prices fell below $30,000.

Since the first ten days of April, the aSOPR indicator (7 MA) has dropped below the 1 mark and has remained below this level for most of the month. This indicated a deterioration in market sentiment.

At the same time, the maximum number of addresses with a balance of 1 BTC and above has been updated. This could mean capital flows into the asset from altcoins that are losing value more quickly.

Also in April, long-term investors’ confidence in bitcoin’s prospects increased and the risk-reward ratio increasingly attractive to them – the Reserve Risk indicator continued to dive deeper into the “green zone.”

Sponsor of “Bitcoin industry by numbers” column – global blockchain ecosystem Binance.

Recall that in April, Glassnode analysts noted positive changes in bitcoin’s fundamental metrics.