$BTC is at a -19 deviation from the WMA200 when measured vs. $GOLD -14 levels have previously marked bottoms vs. both Gold and USD. we are currently entering levels only seen during FTX collapse (reached -34) also weekly RSI below 30. This only happened in Dec’18 and Jun’22 The nuance here is that this time, more extreme levels are being reached due to high outperformance of Gold on the upside while BTC remains week — instead of simply higher beta of BTC on the downside. Whereas gold might see some pullbacks, if you think that it is to retain this valuation, BTC can again be considered cheap enough vs. gold to justify a long-term investment.