<ul><li>ETH plunged to 2019 levels before recovering but remains undervalued compared to BTC, according to CryptoQuant report.</li><li>The ETH/BTC MVRV ratio indicates extreme undervaluation, historically signaling buying opportunities, but current environment differs.</li><li>Fundamental headwinds affect ETH, including supply increase, reduced burn rate, stagnant on-chain activity, and waning institutional interest.</li><li>Despite recent rally due to Pectra upgrade, experts warn that ETH's undervaluation may not lead to a quick rebound as in past cycles.</li></ul>

Why ETH’s Undervaluation May Not Signal a Buying Opportunity: CQ Report

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