BTC Has seen a -37% drawdown vs SPX from its local relative highs back in July this year. This is a big part why this drawdown has felt so bad compared to others this cycle. Everything has moved up pretty rapidly, while Bitcoin and alts were left behind and even sold off. I do believe that BTC is getting to areas where it is getting more attractive again for longer term value investors. Similar when comparing it vs Gold. The biggest thing Bitcoin & Crypto need is liquidity. Once we see liquidity come back into the financial markets, I'm pretty confident we'll see BTC outperform again.(Daan Crypto Trades)