Analysts: Bitcoin is undervalued relative to gold, potentially signaling a rebound.

CoinFeed reported on March 2nd, citing Cointelegraph, that Samson Mow, CEO of Bitcoin technology company Jan3, stated that Bitcoin is currently undervalued relative to gold and the global money supply, which could signal a price reversal. Mow posted on the X platform that Bitcoin's market capitalization relative to gold or the global money supply is 24% to 66% below its trend line, while gold is overbought. Mow also cited the Bitcoin Z-score, which tracks how much BTC's price deviates from its historical average. The Z-score for the Bitcoin-to-gold ratio is currently around -1.24. Bitcoin has previously experienced "significant" price increases when this ratio's Z-score falls below -2.