After experiencing significant price drops, Bitcoin (BTC) is showing signs of recovery, currently trading between $86,000 and $87,000. While investors ponder the sustainability of this rebound, an analysis from K33 Research offers insights into potential buying opportunities. The firm’s analysts believe BTC is experiencing psychological selling pressure, leading to a long-term buy proposition. Their analysis reveals that Bitcoin underperformed the Nasdaq for nearly 70% of the past month, with its correlation to US stocks increasing. According to Vetle Lunde, Head of Research at K33, this trend reflects a risk-off environment and ongoing selling pressure. He further notes that Bitcoin’s recent declines have been sharper than the corresponding drops in US stock markets, suggesting the underlying market dynamics.