Bitcoin Rsi Nears Three-year Lows Vs. Gold As Analyst Sees Bullish...

Bitcoin reached significant multiyear support versus gold as commentary diverged over a breakdown and the start of a new bear market.

Bitcoin (BTC) versus gold has entered classic bottom territory as a key support retest begins.

Bitcoin drops to 20 ounces of gold for the first time since early 2024.

This represents a the border between bull and bear-market territory, analysis says.

A three-year Bitcoin uptrend versus gold is now almost lost.

Analysis from crypto trader, analyst and entrepreneur Michaël van de Poppe on Saturday predicted “more upside on the horizon” for Bitcoin.

Bitcoin has struggled in gold terms as the precious metal stays near all-time highs through the Q4 crypto market correction.

Data from Cointelegraph Markets and TradingView shows that BTC/XAU now trades at around 20 ounces — its lowest levels since early 2024.

For Van de Poppe, however, opportunity is in the air.

“The last times the markets have hit their low, that was the moment BTCUSD/Gold has hit the low as well. One of them is getting overvalued. One of them is getting undervalued,” he told X followers.

Source: CoinTelegraph