CoinDesk Podcast Network Bitcoin Dips Below 'Fair Value': Will It Go Up From Here? | CoinDesk Daily
Dec 3, 2025
Bitcoin has dipped below its Metcalfe fair value for the first time in two years, sparking discussions on potential historical trends of strong returns. There's buzz as Bitcoin trades above $93,000, alongside heavy trading activity in BlackRock's iBit ETF. Meanwhile, CalSheet has raised $1 billion and formed a data partnership with CNN. What does all this mean for the future of crypto? Tune in for insights on these intriguing developments!
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Below-Metcalfe Could Signal Market Reset
- An economist says trading below Metcalfe often signals the late stages of market resets. - That historical pattern suggests potential for outsized forward returns after such dips.
Bitcoin Trades Below Metcalfe Fair Value
- Bitcoin briefly fell below its Metcalfe-modelled "fair value" for the first time in nearly two years. - Historically, such below-Metcalfe periods preceded strong 12-month returns, positive 96% of the time with an average gain of 132%.
BlackRock's Fund Joins Highly Liquid ETFs
- BlackRock's Bitcoin ETF joined the ranks of the market's most liquid ETFs due to the surge. - High liquidity signals strong investor demand for crypto-linked products.