币界网报道：Bitcoin's recent price drop has created a tactical opportunity for contrarian investors, according to analysts who note a growing disconnect between Bitcoin's performance and Coinbase's stock. While Bitcoin has declined over 20% from its March peak, Coinbase shares have surged nearly 50% year-to-date, diverging from their typical correlation. This anomaly presents a potential buying window for Bitcoin, as historical patterns suggest such disconnects tend to correct over time. Market observers point to several factors behind the divergence, including Coinbase's diversified revenue streams beyond trading fees and optimism around its regulatory positioning. The exchange has been expanding into derivatives, staking services, and institutional offerings, reducing its reliance on spot trading volumes that typically move in tandem with Bitcoin prices. Some analysts argue the current setup mirrors early 2023 conditions when Bitcoin eventually caught up to Coinbase's outperformance. However, risks remain, particularly around potential regulatory actions and macroeconomic uncertainty that could pressure both assets. The situation highlights how crypto-native companies are evolving beyond pure-play exposure to digital asset prices, creating new dynamics for investors to navigate.