K33: As the selling pressure eases, Bitcoin's consolidation suggests that the market may be bottoming out

According to Theblock, K33 research director Vetle Lunde pointed out that in recent weeks, the price of Bitcoin has mainly fluctuated between $60,000 and $75,000, indicating that the trading volume of exchange-traded products and the behavior of long-term holders are stabilizing. He described this price trend as "typically associated with market bottoms" and suggested that the price range just above $70,000 may be attractive to medium- to long-term investors.

According to Lunde, since late February, the capital flow of Bitcoin ETFs has slightly turned positive, indicating that the sell-off wave since the historical high in October may be coming to an end. He stated that the previous capital outflow was due to profit-taking when the Bitcoin price fell below the investors' cost price, creating a supply-demand feedback loop. However, as prices fell, the motivation to sell weakened, and demand began to stabilize.