Bitwise asserts that Bitcoin is undervalued: Is this a rare buying opportunity? Although the Fear and Greed Index has been stuck at "extreme fear" for the past 20 days, a closer look at macroeconomic data reveals a very different picture. Bitwise's Chief Research Officer believes that Bitcoin is trading at a deep "discount" compared to the global money supply and gold prices. Notably, the Clarity Act has an 80% chance of passing in 2026 – a significant boost for both Bitcoin and altcoins like ETH and SOL. As global liquidity continues to grow at over 10% annually, history shows this is not an environment for a prolonged bear market. The fact that Bitcoin is "lagging behind" inflows into ETP funds is merely a temporary delay. Once risk appetite returns, we will see an extremely impressive "catch-up" rally. Indeed, in times of crisis, opportunities emerge; when people are trembling, the "cold-headed" find chances to support and ride the new growth cycle. $BTC #CelebratingNewYearOnGateSquare