K33: Bitcoin's sideways consolidation or near-periodic bottom selling pressure has weakened significantly

According to market news, encryption research institute K33 said that Bitcoin has continued to move sideways in the near future, which may indicate that the market structure is changing. As selling pressure weakens, the market may gradually approach a phased bottom. VetleLunde, director of research at K33, pointed out that Bitcoin has mainly fluctuated in the range of US$60,000 to US$75,000 in recent weeks. This range is accompanied by the stabilization of ETF capital flows and long-term holder behavior, and is often regarded as a "market bottoming" feature. The current low of about US$70,000 is attractive to medium-and long-term investors. For long-term holders, the supply of currency held for more than six months has rebounded again after falling sharply at the end of 2025, indicating that investors are more inclined to hold rather than sell in the current price range, which will help stabilize prices. However, the macro environment is still uncertain. Geophysical conflicts in the Middle East and oil price fluctuations combined with the Fed's eagle-looking stance may suppress risk appetite and limit the admission of incremental funds. Although macro factors still restrict the upside in the short term, K33 believes that the combination of weakening selling pressure, stabilizing ETF funds and fluctuating price ranges means that the market may be transitioning from the distribution stage to the bottoming stage.