🚀 Bitcoin Enthusiasts, Hold Tight! 🚀

Bitcoin (BTC) faced a rocky weekend, dropping nearly 5% to below $54,000 after August's nonfarm payrolls (NFP) data missed expectations. This dip led to $200 million in long positions being liquidated and affected the broader crypto market, including meme coins and AI sectors.

But wait! Analysts from Presto Research argue that BTC is "grossly undervalued." Despite short-term price volatility, Bitcoin's network security has hit an all-time high with a hashrate of 679 EH/s. This makes BTC the most secure network globally, yet its hash price is at a historic low.

In the long run, BTC's value is bolstered by its growing acceptance as "digital gold." With upcoming CPI and PPI data releases, expect more price action! 🌟