Bitcoin Price Lags Network Utility: A Valuation Reset Is Underway

Bitcoin continues to struggle below the $90,000 level as volatility remains elevated and market conviction weakens. Short-term price swings have failed to establish a clear directional bias, reinforcing a broader sense of uncertainty among traders and investors. While price remains historically high, internal market conditions suggest that underlying stress is building beneath the surface, particularly within the mining sector.A recent analysis by Axel Adler highlights growing pressure on Bitcoi