#AbuDhabiStablecoin According to Fidelity Digital Assets, the medium-term outlook for Bitcoin

fell into a zone of "optimism", while the investment firm noted that BTC tends to be "undervalued".

As evidence, the firm cited the 'Bitcoin Yardstick' metric, which measures the market capitalization of BTC 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.