Bitcoin may be nearing a bottoming-out phase, having fallen to historical lows relative to gold.

PANews reported on January 31st, citing Cointelegraph, that data shows Bitcoin's price relative to gold has fallen to a historic low. This indicator has repeatedly appeared near Bitcoin's market bottoms in the past, signifying Bitcoin's significant weakness relative to gold. However, this also leads some analysts to view the current market environment as a potential buying opportunity, superior to that before the start of the 2015-2017 bull market. Market analysts believe that long-term holders are absorbing recent selling pressure. As funds rotate between safe-haven and risk assets, some traders anticipate a possible return of funds from gold to Bitcoin starting in February. However, others caution that this rotation is not inevitable and requires observation of changes in the macroeconomic environment and market risk appetite.