[Ethereum Market Shows Capitulation Signals, Analysts Divided on Future Trends] According to Cointelegraph, Ethereum's MVRV Z-Score indicator has dropped to -0.42, entering a zone typically regarded as market capitulation. However, analysts are divided on whether its price is nearing the bottom. This indicator evaluates whether an asset is overvalued or undervalued by comparing market value to realized value. CryptoQuant analyst Joao Wedson pointed out that the current value indicates Ethereum is undergoing a clear capitulation process, but the intensity is far less severe than the historical extremes of December 2018 (-0.76) and the 2022 bear market bottom. He warned that the market might still have further downside potential before forming a structural bottom. Tim Sun, a senior researcher at HashKey Group, stated that although Ethereum's fundamentals have not deteriorated and continue to improve, the price still faces downside risks due to the ongoing downward drivers and potential liquidity pressures from the April tax season. Some analysts hold a more optimistic view. MN Fund founder Michaël van de Poppe believes that Ethereum's current valuation is similar to historical lows, such as the crash in April 2025 and the bottom after the Terra/Luna collapse in June 2022, presenting a clear buying opportunity. Bitrue's Head of Research, Andri Fauzan Adziima, also noted that the negative MVRV zone has repeatedly appeared before explosive recoveries in past cycles, suggesting that this could be a window for long-term accumulation.