Bitwise: Bitcoin is significantly undervalued compared to AI stocks, but risks remain due to the Fed’s hawkish stance
BlockBeats news, June 20, Bitwise analysts stated that despite ongoing hawkish risks from the Federal Reserve, current Bitcoin valuation indicators still show it is in a historically undervalued range. The Bitcoin Mayer Multiple indicator has dropped below 1.0, which historically corresponds to a long-term accumulation phase, suggesting that the BTC price exhibits “deep value” characteristics.
However, Bitwise also pointed out that investor participation remains sluggish. According to the Realized Market Cap Growth indicator from CryptoQuant, the market has stayed in a bear phase since the end of October 2025, indicating that new capital entering the Bitcoin network continues to slow down. The 7-day and 59-day moving averages of this indicator have declined from about 70 in the fourth quarter of 2025 to 13.9 and 19.1 as of June 17, respectively.
Bitwise added that compared with AI-related stocks such as Nvidia, Bitcoin is significantly undervalued, while the latter currently trades at a considerable premium relative to long-term trends. Meanwhile, potential fundraising or IPO deals for SpaceX, Anthropic, and OpenAI combined could attract more than 200 billion US dollars in investor demand, which would intensify competition for market liquidity.
The Federal Reserve kept its rate unchanged at 3.5% to 3.75% on Wednesday, but the latest dot plot showed that nine officials expect at least one rate hike this year, with six officials projecting two or more hikes. After the rate decision, Bitcoin fell below 64,000 US dollars. Bitcoin investor Jelle noted that 64,000 US dollars is a key price level for buyers. If it holds, a rebound to 70,000 US dollars could take place in the coming weeks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk changes his stance! Tesla (TSLA.US) delays Cybertruck production halt to late summer 2027, just two days after suggesting “refund deposits”
Elon Musk stated that Cybertruck production will be extended until late summer 2027 to clear the order backlog, and Tesla's stock price rose by about 4%.
Japanese dovish policymaker urges "slow down": Price increases are not driven by demand, rate hikes may drag down the economy and inflation
Toichiro Asada, a member of the Bank of Japan's Policy Board, stated that the central bank needs to remain cautious and closely monitor the impact of rate hikes on the economy, as rising interest rates pose the risk of suppressing the inflation trend.
Don't Be Misled by "Instant Purchase, Instant Access": Pro Series Zero Wait Has Been the Norm for Years, UBS Maintains Apple (AAPL.US) Target Price at $340
The waiting time for iPhone 18 Pro is approaching zero, and Duo deliveries are scheduled until the end of January. UBS maintains its forecast for iPhone revenue in the December quarter at $95.1 billions, representing a year-on-year increase of 11.5%.
Crypto prices
More
