According to CoinDesk, CryptoQuant's latest analysis pointed out that the fair value of Bitcoin is between $48,000 and $95,000, indicating that Bitcoin's current market price may be overvalued. The Bitcoin Network Activity Index, launched by the analyst firm, shows that the index has fallen 15% since its peak in November to 3,760 points, its lowest level in more than a year. The decline was driven mainly by a substantial reduction in daily trading volume, which plummeted 53% from a record high of 734,000 in September to 346,000.