K33: Bitcoin is currently in a severe oversold condition, with no sufficient reason to continue selling

March 4th – According to The Block, cryptocurrency research and brokerage firm K33 says Bitcoin has entered one of its most oversold weekly ranges in history after months of persistent selling pressure, with no compelling reason to sell at current prices. K33 Research Director Vetle Lunde noted in a recent report: “If you want to be wrong, follow the crowd.” He pointed to pervasive pessimism in crypto derivatives markets, where investor positions are heavily skewed toward defense. Following six straight weeks of declines and five consecutive months of losses—marking one of Bitcoin’s longest-ever downward cycles—the weekly Relative Strength Index (RSI) recently hit 26.84, the third-lowest level on record. The report adds this downturn has been driven primarily by selling from long-term holders and institutional investors. In Q4 2025, the supply held for over six months saw a sharp drop; meanwhile, exchange-traded fund (ETF) investors sold nearly 100,000 BTC, and open interest for CME Bitcoin futures fell to a two-year low. However, Lunde said these outflows have recently begun to slow.