K33: With selling pressure easing, Bitcoin's consolidation suggests the market may have bottomed out.

According to ME News, on March 26 (UTC+8), Vetle Lunde, Head of Research at K33, pointed out that Bitcoin's price has been consolidating between $60,000 and $75,000 in recent weeks, indicating that trading volume on exchange-traded products and the behavior of long-term holders are stabilizing. He described this price movement as "typically correlated with market bottoms" and suggested that Bitcoin's price range of just over $70,000 could be attractive to medium- to long-term investors. According to Lunde, Bitcoin ETF flows have turned slightly positive since late February, suggesting that the sell-off since its all-time high in October may be nearing its end. He stated that the previous outflows were due to profit-taking when Bitcoin's price fell below investors' cost price, creating a supply-demand feedback loop. However, as prices fell, the motivation to sell weakened, and demand began to stabilize. (Source: ME)