Presto Research: Recently, the market has been dominated by macro factors, overlooking the value support of BTC

According to reports, the market suddenly fell on Friday after the employment report was released, with more than $220 million in cryptocurrency long positions being liquidated. Presto Research analysts Peter Chung and Min Jung stated in today's report that "Bitcoin is severely undervalued. Recently, macro factors have dominated BTC price discussions, and the market has overlooked one of the key fundamentals supporting Bitcoin value - network security." "The computing power has reached a historical high of 679 EH/s, making it the most secure network so far," they added. "If you believe this trend will continue (in fact, the emergence of spot ETFs means our environment is much better than ever before), then BTC seems to be severely undervalued at present." Metalpha senior analyst Lucy Hu said, "It appears that lower-than-expected employment data currently dominates market sentiment as broad assets have fallen since Friday's data release." "We expect that before the next Federal Reserve meeting, volatility will remain high in cryptocurrency markets."