Grayscale Report: On-chain Metrics Suggest Bitcoin Undervaluation at $60,000 Level

Key Facts

Amidst heightened volatility in the digital asset space, institutional analysis is providing a counter-narrative to recent price weakness. A report from Grayscale suggests that on-chain metrics indicate Bitcoin is undervalued at its current $60,000 price threshold. According to reports, the analysis seeks to address market concerns regarding whether Bitcoin has established a cycle bottom following its recent decline below key psychological levels.

This assessment of undervaluation aligns with broader industry trends where institutional players evaluate realized price versus market value. Per market data, Bitcoin's performance continues to dictate the direction of major peers like Ethereum. Historical comparisons from previous market cycles suggest that when on-chain activity remains robust despite price consolidation, it often precedes a recovery phase, a sentiment echoed by recent expert commentary in the crypto-finance sector.

Looking ahead, market participants are focusing on whether Bitcoin can reclaim and hold levels above $60,000. Investors should monitor upcoming macroeconomic catalysts, including Fed officials' speeches such as the Logan speech, which can shift liquidity expectations. Additionally, recent US economic data, including the ISM Services PMI and ADP employment figures from June 3, 2026, remain pivotal in shaping the risk-on appetite necessary for a sustained crypto rally.