[K33: ETF Outflows and Long-Term Holder Selling Intensify Bitcoin Selling Pressure] Odaily Planet Daily News – K33 Research Director Vetle Lunde stated in a new report that perpetual futures traders have increased their open interest by more than 36,000 Bitcoin, marking the largest weekly increase since April 2023. At the same time, funding rates are also climbing, indicating that traders are engaging in 'knife-catching' behavior rather than defensive positioning. The rising funding rates may stem from the execution of limit orders that initially anticipated a rapid price rebound after hitting a six-month low. However, the rebound has not materialized, and now this leverage effect signifies excess capital, increasing the risk of heightened market volatility due to liquidations. Additionally, Bitcoin ETFs have experienced a wave of sell-offs, with related products losing 20,150 Bitcoin in the past week and nearly 40,000 Bitcoin over the past 30 days. Six out of the last seven ETF trading days ended with outflows, including a single-day outflow of 10,060 Bitcoin on November 13. These factors have exacerbated the selling pressure on Bitcoin. (The Block)