Matrixport released a report saying that despite the higher-than-expected US Producer Price Index (PPI), the Nasdaq index still hit a record high last night. Although the Nasdaq index looks 5% more valuable than BTC, this also shows that BTC is undervalued because the 30-day correlation between the two is still as high as 42%. This means that as the Nasdaq hits a new high, Bitcoin should also hit a new high. #DYOR42711