Presto Research: Recently, the market has been dominated by macro factors and has overlooked the fundamental value of BTC.

According to CoinDesk, the market suddenly fell after the release of the job report on Friday, and over 220 million US dollars worth of cryptocurrency long positions were liquidated. In today's report, Presto Research analysts Peter Chung and Min Jung stated that 'BTC is severely undervalued, and recent macro factors have dominated the price discussion of BTC, with the market overlooking one of the key fundamentals that support the value of BTC - network security.' 'Computing Power has reached a historic high of 679 EH/s, making it the most secure network to date.' They added, 'If you believe that this trend will continue, then BTC currently seems to be severely undervalued.'
Lucy Hu, a senior analyst at Metalpha, said, "It seems that the lower-than-expected employment data is currently dominating market sentiment, as widespread assets have fallen since the data was released on Friday. We expect the cryptocurrency market to experience high fluctuation until the next Federal Reserve meeting."