Bitcoin Underperforms Nasdaq: Potential Long-Term Buying Opportunity Emerges

Recent data reveals that Bitcoin has lagged behind the Nasdaq Index for an impressive 70% of trading days over the past month, according to K33 Research Director Vetle Lunde. Specifically, Bitcoin’s performance currently stands 30% weaker compared to the index as of October 8th. The ongoing sell-off in Bitcoin appears to be nearing a saturation point, with signs of panic selling evident across both spot market and ETP trading flows. This notable underperformance of Bitcoin compared to stocks is not based on its underlying fundamentals and presents a compelling long-term buying opportunity.