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Bitcoin is Finishing the Year Undervalued

Bitcoin Correlations Report, December 2024

Ecoinometrics

Dec 25

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Bitcoin is bouncing back from the post-FOMC dip. But unless some miracle happens, it is unlikely Bitcoin will finish the year significantly above $100,000.

That puts it somewhat below target, but it doesn't make it an outlier when compared to other assets.

For this Christmas edition, let's discuss the position in which Bitcoin is ending the year 2024.

The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.

We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things.

We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less.

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Bitcoin is Finishing the Year Undervalued

The Takeaway

Bitcoin ends 2024 near $100,000, moderately undervalued relative to the stock market.

Its strong correlation with both NASDAQ and gold suggests macro factors are driving prices. While traditional metrics indicate significant potential upside, newer institutional flow-based models suggest more modest growth ahead.

The notable absence of retail FOMO behaviour points to a maturing market still in a bull phase.