Analyst: The Bitcoin sell-off has nearly saturated, and it may be a relatively strong buying opportunity now

According to The Block, K33 Research Director Vetle Lunde stated in a new report that over the past month, Bitcoin has underperformed the Nasdaq index on 70% of trading days, and currently, Bitcoin's performance relative to the index is 30% weaker than on October 8. The recent Bitcoin sell-off is nearing a saturation zone, and signals of panic selling in the spot market and ETP trading flows corroborate this.

Bitcoin's severe underperformance relative to stocks has become seriously disconnected from the fundamentals, providing a strong long-term relative buying opportunity.