Recent data shows Bitcoin reaching oversold levels, hinting at a potential long-term rebound. Analysts attribute this to the growth of DeFi applications and increased institutional investments. Notably, historical patterns suggest that Bitcoin often outperforms gold during market cycles, which may be leading to the current surge in Bitcoin’s price. 2013, 2017, and 2021 are examples where Bitcoin outperformed gold before pullbacks appeared later on. 36Crypto reports that Bitcoin’s performance against gold is currently entering a critical technical phase, with data suggesting oversold conditions not seen in years. This could indicate the beginning of an accumulation period for Bitcoin, potentially leading to a significant market recovery. 36Crypto reports that Bitcoin has historically experienced strong correlations with halving cycles, and it’s currently experiencing this trend. Gold continues to see gains as investors seek stability amidst market uncertainty, even though its price recently dipped to $4,253.97 after hitting a record high of $4,380. Despite the decline, gold’s year-to-date rise stands at 62.05%, further strengthening its reputation as a reliable store of value. 36Crypto also shares that Mexican billionaire Ricardo Salinas Pliego believes Bitcoin could potentially reach $1.5 million by the end of next year if it follows in the footsteps of gold’s market size, currently valued at $30 trillion.