K33: Bitcoin has been in a severe oversold condition, and the current price has no compelling reason to continue selling.

BlockBeats News, March 4th, according to The Block, cryptocurrency research and brokerage firm K33 stated that after experiencing months of continuous selling pressure, Bitcoin has entered one of the most oversold weekly ranges in history. There is currently no convincing reason to sell Bitcoin at the current price.

K33 research director Vetle Lunde wrote in the latest report: "If you want to be wrong, follow the crowd." He pointed out that the crypto derivatives market is generally filled with pessimism, and investor positions are significantly biased towards defense. After six consecutive weeks of decline and five consecutive months of losses—making it one of the longest downtrends in Bitcoin's history—the weekly relative strength index (RSI) has recently dropped to 26.84, the third lowest level in history.

The report indicates that this round of decline is mainly driven by sales from long-term holders and institutional investors. In the fourth quarter of 2025, the supply held for over six months saw a significant decrease; meanwhile, exchange-traded investment positions (such as ETF investors) reduced their holdings by nearly 100,000 BTC, and CME Bitcoin futures open interest dropped to a two-year low. However, Lunde stated that these outflows of funds have recently begun to slow down.