Are they a priority for rehabilitation?

The cryptocurrency market is volatile, with large assets trading sideways, showing little volatility and limited price movement.

Despite this period of stagnation, data suggests that many of these digital assets are undervalued and have greater upside potential.

SHIB, DOGE, ADA very low price

According to Sentiment's latest findings, the 30-day market value to fair value (MVRV) ratio found that many properties are undervalued. A low MVRV ratio indicates that traders are holding assets at a loss, increasing the likelihood of price repurchases as historically oversold conditions can attract buying interest.

Sentiment's compiled data shows Bitcoin (BTC) MVRV -4%, Ethereum (ETH) -4.3%, and XRP -3.5%, all suggesting mild bullish conditions.

Meanwhile, Dogecoin (DOGE) and Cardano (ADA) show more extremes with MVRV of -16.7% and -12.6% respectively, indicating very worrisome prospects for price recovery.

Toncoin (Ton), which has seen an impressive run over the past few weeks, remains relatively neutral, registering an MVRV of -.6%. This figure basically indicates a balanced market with no strong indication of any moderate movement.

Interestingly, the popular meme coin Shiba Inu (SHIB) has the lowest MVRV among these large-cap tokens -19.1%, indicating strong rebound potential.

Lack of flexibility

In line with the broader market trend, bitcoin's price action has been muted for the past several weeks despite a failed attempt to breach $70,000. Experts suggest that this “dull” activity reflects the maturity of the world's largest asset class.

Additionally, the supply of Bitcoin currency is hovering near December 2021 lows, which could indicate a potential reversal.

The previous analysis further reinforces the notion that the bitcoin market cycle has not yet reached its peak and that the current situation resembles the early stages of previous bull markets and that BTC is primed for further gains.

If that happens, the cryptocurrency market as a whole can expect a new high by the end of this year.