K33: Bitcoin May Have Bottomed Out, Entering a Consolidation Phase Between $60,000–$75,000

Odaily News K33's analysis report indicates that Bitcoin's decline towards $60,000 last week may signal a local bottom. This round of selling exhibited "capitulation-like conditions" across the spot, ETF, and derivatives markets, including extreme levels in trading volume, funding rates, and options skew. Some indicator data shows Bitcoin's daily RSI dropped to 15.9, marking the sixth lowest level since 2015, only surpassed by March 2020 and November 2018; the Crypto Fear & Greed Index fell to 6, the second lowest point in history. K33 believes Bitcoin is likely to enter a consolidation phase within the $60,000 to $75,000 range, with reduced activity. While a retest of support is possible, the risk of a significant downturn below recent lows is limited. (The Block)