Bitwise Sees Bitcoin at Deep Discount Levels as ETF Outflows and Fear Hit Extremes

According to Bitwise's latest Weekly Crypto Market Compass, Bitcoin's price slump driven by heavy crypto ETP outflows and widespread futures liquidations has pushed key valuation metrics into rarely seen discount territory. The report notes that BTC briefly dropped to about $74,700, with nearly 78% of invested capital estimated to be underwater, while sentiment and positioning indicators suggest an increasingly contrarian setup for the broader crypto market.