According to The Block, crypto research and brokerage firm K33 stated that Bitcoin has entered one of its most oversold weekly levels in history. K33’s Head of Research, Vetle Lunde, noted that Bitcoin has experienced six consecutive weeks of declines and five consecutive months of monthly losses, with its weekly Relative Strength Index dropping to 26.84—the third-lowest level on record. Derivatives markets reflect extreme bearish sentiment: Bitcoin perpetual futures’ 30-day average funding rate has turned negative, marking only the tenth such occurrence since 2018. Historical data shows that following similar conditions, the average return over the next 30 days was approximately 13%, with win rates rising to 78% over 90 and 180 days, and average returns reaching 62% and 101%, respectively. Despite escalating geopolitical tensions, Bitcoin has demonstrated relative resilience. Lunde remarked, “The worst is behind us; now we wait.” Bitcoin is currently trading at around $71,000, up 4.7% over the past 24 hours.
K33: Bitcoin Enters Severely Oversold Territory, No Compelling Sell Reason
TechFlowShare
Summary
Bitcoin analysis from K33 shows the asset has reached one of the most oversold weekly levels in history. Bitcoin news reports six consecutive weeks of declines, with the RSI at 26.84—the third lowest on record. Funding rates have turned negative for the 10th time since 2018. Historical data indicates that 30-day returns have averaged 13% following such levels. Bitcoin analysis notes a 78% win rate over 90 and 180-day periods, with gains reaching up to 101%. Bitcoin news states the asset is currently trading near $71,000, up 4.7% in the past 24 hours.
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