#BinanceAlphaAlert
Key Points:
Fidelity Digital Assets says that Bitcoin is undervalued and the firm maintains a medium-term optimistic outlook.
The JOLTS report shows a strong decline in open job offers in the United States, increasing investors' hopes for Fed interest rate cuts.
According to Fidelity Digital Assets, the medium-term outlook for Bitcoin
BTC
€82,411
has fallen into an “optimism” zone, while the investment firm noted that BTC tends to be “undervalued.”
As proof, the firm cited the 'Bitcoin Yardstick' metric, which measures BTC's market capitalization divided by its hashrate. A lower ratio suggests that Bitcoin is "cheaper" in relation to the energy security of its network.
In the first quarter of 2025, the metric remained between -1 and 3 standard deviations, cooling from its overheating levels in the fourth quarter of 2024. The number of days above 2 standard deviations fell from 22 to 15, with none above 3, indicating that Bitcoin is less expensive compared to the strength of its network.
