the Bitcoin to Gold (BTC/XAU) price has dropped to the level of about 20 ounces of gold, the lowest since early 2024. At the same time, the weekly RSI indicator of this ratio has fallen to around 29.5 (oversold area), close to a three-year low. Data shows that this RSI oversold region historically often appears near the bottom of bear markets. Some analysts believe this may indicate that Bitcoin is undervalued and has potential for a rebound in the future. However, there are also views that if this key support is broken, it may signal a weakening trend.
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Analysis: Bitcoin's RSI relative to gold has fallen to a near three-year low, considered a potential bull/bear market boundary.
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