According to Odaily, Matrixport has released a report indicating that despite the Producer Price Index (PPI) in the United States exceeding expectations, the Nasdaq Index still managed to reach a historic high. The report suggests that Bitcoin appears to be undervalued, as it is 5% lower than the Nasdaq Index, despite a 30-day correlation of 42% between the two. This high correlation implies that Bitcoin should also reach new highs as the Nasdaq Index does. The report's findings are significant as they suggest a potential undervaluation of Bitcoin in comparison to the Nasdaq Index. This could indicate a potential opportunity for investors, as the high correlation between the two suggests that Bitcoin's value could increase in line with the Nasdaq Index. It's important to note that while the report suggests a potential undervaluation of Bitcoin, this does not guarantee future performance. Investors should always conduct their own research and consider their own risk tolerance before making investment decisions.