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Analysis: Bitcoin in Deeply Undervalued State, Higher Probability of Significant Increase than Recurring Cycle Pullback
Summary: According to TheBlock, K33 research director Vetle Lunde pointed out in the December outlook report that Bitcoin is in a 'deeply undervalued' state compared to stocks, with a much higher probability of a significant increase than the 80% pullback seen in previous cycles. In November, market sentiment deteriorated sharply, ETF holders turned into 'significant net ...
According to TheBlock, K33 research director Vetle Lunde pointed out in the December outlook report that Bitcoin is in a 'deeply undervalued' state compared to stocks, with a much higher probability of a significant increase than the 80% pullback seen in previous cycles. In November, market sentiment deteriorated sharply, ETF holders turned into 'significant net sellers,' and traditional financial participants withdrew, causing Bitcoin to fall to its lowest level since November 2024 relative to the NASDAQ index. Lunde noted that positive catalysts failed to materialize as market participants 'eagerly sought reasons to sell' amid speculators depleting cash reserves and long-term holders defending their positions.
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Link: Analysis: Bitcoin in Deeply Undervalued State, Higher Probability of Significant Increase than Recurring Cycle Pullback [Copy]
