Bitcoin's current price, down 31.4% from its October peak of $126,000, is now below its network value for the first time in two years, according to Metcalfe's Law. Economist Timothy Peterson highlights that this undervaluation, driven by a divergence between price and network growth, often precedes a recovery. Historical data suggests a 96% probability of a positive return within a year when Bitcoin trades below its Metcalfe value, indicating potential for a price rebound in 2026.