K33: Bitcoin sideways consolidation or approaching temporary bottom, selling pressure significantly weakened

According to TechFlow, on March 25th, according to The Block, cryptocurrency research firm K33 stated that Bitcoin's recent continuous sideways consolidation may indicate a shift in market structure, and as selling pressure weakens, the market may gradually approach a temporary bottom. Vetle Lunde, head of research at K33, pointed out that Bitcoin has mainly fluctuated in the $60000 to $75000 range in recent weeks. This range is accompanied by stable ETF fund flows and long-term holder behavior, and is usually seen as a "market bottoming out" feature. The current low of about $70000 is attractive to medium - and long-term investors. For long-term holders, the supply of coins held for more than 6 months has rebounded after a significant decline by the end of 2025, indicating that investors are more inclined to hold rather than sell in the current price range, which helps stabilize prices. However, the macro environment still remains uncertain. The geopolitical conflicts in the Middle East and fluctuations in oil prices, coupled with the hawkish stance of the Federal Reserve, may suppress risk appetite and limit the entry of incremental funds. Although the upward potential is still constrained by macro factors in the short term, K33 believes that the combination of weakened selling pressure, stable ETF funds, and fluctuating price ranges means that the market may be transitioning from the distribution stage to the bottoming stage.