K33: Bitcoin in Severely Oversold Territory, Market May Brew Staged Rebound Opportunity

Odaily News K33 pointed out in its latest analysis report that Bitcoin has entered the most extreme weekly oversold territory in history after experiencing months of continuous selling pressure. The previous selling pressure mainly came from long-term holders and institutional investors, but recently this selling pressure has begun to ease, showing signs of staged stability in the market. K33 noted that historical data shows that after similar extreme bearish cycles, Bitcoin often experiences a staged rebound. While the bottom formation phase still requires time, the combination of extreme oversold conditions, derivatives deleveraging, and the resumption of long-term supply collectively points to an opportunity for a staged rebound. However, the options market shows strong bearish sentiment, with investors paying high premiums for downside protection, and negative funding rates indicate that the market's demand for deleveraging long positions or establishing short positions persists. (The Block)