K33: Bitcoin enters an extreme weekly oversold zone, with selling pressure easing and a potential for a temporary rebound brewing

BTC-0.05%
Odaily Planet Daily reports that K33's latest analysis indicates that Bitcoin has entered the most extreme weekly oversold zone in history after experiencing consecutive months of selling pressure. Previously, the selling pressure mainly came from long-term holders and institutional investors, but recently this selling pressure has begun to ease, showing signs of market stabilization. K33 points out that historical data shows that after similar extreme bearish cycles, Bitcoin often experiences a phased rebound. While it still takes time to form a bottom, the combination of extreme overselling, derivatives deleveraging, and the recovery of long-term supply all suggest a potential for a phased rebound. However, the options market shows strong bearish sentiment, with investors paying high premiums for downside protection. Negative funding rates indicate that the market's deleveraging of longs or the establishment of short positions continues. (TheBlock)
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