K33: Bitcoin Consolidating or Approaching Phase-level Bottom, Selling Pressure Significantly Weakening

Deep Tide TechFlow News, March 25, According to The Block, crypto research firm K33 states that Bitcoin’s recent sideways consolidation may indicate a market structure shift. As selling pressure diminishes, the market could gradually approach a cyclical bottom. K33 research director Vetle Lunde pointed out that Bitcoin has been fluctuating mainly between $60,000 and $75,000 in recent weeks. This range, accompanied by stable ETF fund flows and long-term holder behavior, is often seen as a “market bottoming” characteristic. The current low around $70,000 is attractive to medium- and long-term investors.

Regarding long-term holders, the supply of coins held for over six months has rebounded after a significant decline by the end of 2025, indicating that investors are more inclined to hold rather than sell at current prices, which helps stabilize the price. However, macroeconomic conditions remain uncertain. Middle East geopolitical conflicts and oil price volatility, combined with the Federal Reserve’s hawkish stance, may suppress risk appetite and limit new capital inflows. Although short-term upside is constrained by macro factors, K33 believes that the combination of waning selling pressure, stable ETF flows, and range-bound prices suggests the market may be transitioning from a distribution phase to a bottoming phase.