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Analysis: Bitcoin relative to gold RSI falls to a near three-year low, regarded as the bull-bear boundary.
According to Golden Finance, the price of Bitcoin against gold (BTC/XAU) has dropped to around the level of 20 ounces of gold, marking the lowest since the beginning of 2024. At the same time, the weekly RSI indicator for this ratio has fallen to about 29.5 (oversold zone), close to a three-year low. Data shows that this RSI oversold area has historically often appeared near the bottoms of bear markets. Some analysts believe this may indicate that Bitcoin is undervalued and there is potential for a rebound in the future. However, there are also views that if this key support is lost, it may signal a weakening trend.