📉 Has the capitulation selling been completed? K33 Research: $60,000 may be the 'local bottom' for Bitcoin
Analysts at K33 Research point out that the market has shown signals of large-scale capitulation by investors. They believe that the drop to the $60,000 level may have completed the market's 'clean-up'.
Key data indicators are as follows:
🔥 Huge trading volume: As of February 6, Bitcoin's two-day spot trading volume reached $32 billion — this intensity was only seen during the FTX collapse. 📊 RSI bottomed out: The daily Relative Strength Index (RSI) dropped to 15.9. Since 2015, only during the 2020 'COVID-19 pandemic' crash and the 2018 bear market was this value lower. 📉 Funding rate: The funding rate in the derivatives market has dropped to the levels seen during the March 2023 banking crisis.
Market outlook:
K33 expects prices to enter long-term consolidation in the $60,000 – $75,000 range. While the possibility of retesting support levels cannot be ruled out, currently there seems to be a lack of fundamental support for breaking below this local bottom.
In contrast, analysts at Glassnode remain relatively calm, referring to this pullback as a 'moderate' adjustment. Do you believe the bottom has already appeared? Or is it said that 'catching the bottom is too early, there is still a drop'? 🎁👇
#Bitcoin #BTC #加密货币 #K33Research #行情分析
