[Coinbase Survey: Over 70% of Crypto Investors Believe Bitcoin is Undervalued, Market May Be at the End of the Bear Market] According to a report by Jinse Finance on April 30, the latest global investor survey conducted by Coinbase and Glassnode shows that over 70% of crypto investors believe Bitcoin is currently undervalued. Among them, 82% of institutional investors and 70% of non-institutional investors think the market is in the 'late bear market' or 'value retracement phase.' The survey covered a total of 91 global investors, including 29 institutions and 62 non-institutional investors. Data indicates that approximately 75% of institutional investors and 61% of non-institutional investors believe $BTC is undervalued, with only a small number of respondents considering the price to be overvalued. On-chain data also signals a bias toward the bottom range. CryptoQuant analyst Woominkyu's Bitcoin Combined Market Index (BCMI) recently rose from 0.26 to 0.37. This index integrates MVRV, NUPL, SOPR, and market sentiment, historically corresponding to periods of deep undervaluation for Bitcoin. Additionally, the realized market value proportion of short-term holders (1 week to 1 month) has dropped to 3.91%, approaching levels seen in October 2023 when Bitcoin was around $27,000. Analysts believe this indicates a significant decline in speculative activity in the market, suggesting Bitcoin may be entering a 'value accumulation zone.'