<\/p>\n
While crypto natives lament Bitcoin\u2019s underperformance compared to precious metals, institutional traders are eyeing the digital asset.<\/p>\n
On one of BTC\u2019s worst days in recent memory<\/a>, JP Morgan\u2019s quantitative strategist Nikolaos Panigirtzoglou is taking the contrarian approach and says that not only is Bitcoin undervalued, but it looks \u201ceven more attractive compared to gold.\u201d<\/p>\n Panigitzoglou says that liquidations have been \u201cmore modest\u201d despite the asset\u2019s poor recent performance, and highlighted that the bitcoin-to-gold volatility ratio is at a \u201crecord low\u201d in a recent investor research note, according to Yahoo Finance<\/a>.<\/p>\n However, BTC is currently down 13.3% today compared to gold\u2019s 3% decline, so that ratio gap is closing quickly.<\/p>\n Bitcoin\u2019s stark underperformance relative to gold continues a trend that began when the new U.S. administration took office in January 2025. Gold is up 80% since Trump entered office, while BTC is down 37% over the same period.<\/p>\n While retail crypto traders have struggled to reconcile gold\u2019s outperformance, Bitcoin analyst Willy Woo cites several reasons, including quantum computing threats and the marginal buyers in each asset class.<\/p>\n