According to CoinMeta, analyst Darkfost stated that as Bitcoin falls below several key price levels, panic is spreading in the market, whereas just a few weeks ago, investors were generally in a profitable position. He pointed out that based on his long-term valuation model, Bitcoin is now in an extremely undervalued range, having only been at similar levels about 3.4% of the time in history. Darkfost believes that there is no need to worry excessively during such market panic phases, as they often provide good opportunities for long-term investors. However, this indicator does not mean that Bitcoin has hit bottom or that it will necessarily rebound in the short term.