Bitcoin is undervalued, or the numbers say it’s playing it cool for now?

Bitcoin’s been on a textbook rollercoaster ride, right? Prices bouncing, bulls and bears duking it out like it’s the last cannoli in the neighborhood.

But some smart guy, BorisVest from CryptoQuant , says Bitcoin might still be undervalued. Like a hidden gem nobody’s really appreciating yet.

Supply tightens?

First off, let’s talk about the big one, Bitcoin exchange reserves. That’s the stash of BTC sitting on exchanges, ready for anyone to sell or buy.

Right now, it’s about 2.43 million BTC. Sounds like a lot? Sure, but back in the 2021 bull run, it was 3.40 million. That’s a big drop, like someone quietly cleaning out the vault.

What does that mean? Simple. People ain’t selling. They’re holding tight, like they’re guarding the family jewels. Bitcoin’s slowly disappearing from exchanges, which means less supply for sale.

And when supply tightens but demand stays steady or grows? You get a price bump. It’s basic economics. And a little hopium.

Sitting on the sideline

Now, BorisVest also points to this thing called the Stablecoin Supply Ratio, or SSR for short. Right now, it’s sitting at 14.3. What’s that tell us? Well, it means there’s still plenty of purchasing power out there.

Even if Bitcoin dips a bit, there’s enough cash waiting on the sidelines to catch it before it crashes hard.

When SSR goes up, it usually means Bitcoin’s price is climbing, and people have less buying power left.

Back in 2021, SSR hit around 34. We’re nowhere near that now. So, according to BorisVest, Bitcoin’s current price might actually be a bargain.

Clues

But of course, not everyone’s singing the same tune. Titan, another crypto analyst, spotted something sneaky with USDT dominance, the stablecoin king.

#USDT Dominance

A hidden bearish divergence is forming on the weekly chart, hinting at a potential early signal of risk-on sentiment returning. 📈 pic.twitter.com/e59UTR0QoH

— Titan of Crypto (@Washigorira) April 15, 2025

It’s dropping on the weekly charts, and that might mean investors are feeling brave again, moving out of safe stablecoins and back into riskier assets like Bitcoin and altcoins. That’s a classic sign of a market warming up for a bull run.

And hey, the Bitcoin weekly Relative Strength Index just broke out of a long slump. Some people are dreaming big, talking $100,000 and beyond. Crazy? Maybe. Possible? Definitely.

Bitcoin might be playing it cool, hiding its true value like a wise old capo waiting for the right moment.

The smart money’s holding, the buyers are lurking, and the charts are whispering sweet nothings about a comeback.

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