TechFlow News: On February 11, according to The Block, K33 stated in its latest report that Bitcoin’s recent dip toward $60,000 last week may signal a local bottom. This round of selling pressure has exhibited “capitulation conditions” across the spot, ETF, and derivatives markets—including extreme levels in trading volume, funding rates, and options skew. Some indicator data show Bitcoin’s daily RSI fell to 15.9—the sixth-lowest level since 2015, surpassed only by March 2020 and November 2018; the Crypto Fear & Greed Index dropped to 6, marking the second-lowest reading on record. K33 believes Bitcoin may now enter a consolidation phase within the $60,000–$75,000 range, with reduced activity and potential retesting of support levels, while significant downside risk below the recent lows remains limited.
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