I remain cautious about long-term judgments like “cryptocurrency should outperform the Nasdaq.” After all, a short-term oversold rebound and long-term relative performance are two different things. What I care about more is the fact that after Bitcoin oversold relative to the Nasdaq by more than two standard deviations, it started moving upward—this at least suggests that mean reversion is at work. As for whether I should adjust my allocation based on this, I’ll first watch to see if this trend can continue rather than jumping to conclusions.