Analysis Company Announces Bottoming for Bitcoin (BTC)! “These Levels Shouldn’t Be Missed!”

The leading cryptocurrency, Bitcoin ($BTC), has attracted attention by remaining strong compared to assets like gold and silver despite the US-Iran conflict.

However, Bitcoin is facing obstacles in its short-term upward trend. The continued increase in geopolitical tensions due to the lack of progress in peace talks between the US and Iran, coupled with concerns about war-related inflation, is negatively impacting Bitcoin’s rise.

Recently, $BTC has been moving sideways between approximately $72,000 and $67,000, and in its latest report, crypto analytics company K33 Research stated that these sideways movements in Bitcoin could indicate a bottoming out process.

K33 analysts stated that Bitcoin’s consolidation between $60,000 and $75,000 in the medium term indicates a bottom, supported by reduced selling pressure, stabilization of spot ETF inflows, and a recovery in the supply of long-term investors.

Analysts said that prolonged consolidation could signal a shift in the $BTC market structure and a potential bottom.

K33 Research Head Vetle Lunde stated that this consolidation in Bitcoin has historically been seen as a signal of forming a bottom.

“The $70,000 level, in particular, stands out as an attractive area for medium and long-term investors.”

The modest trend in net inflows into spot ETFs since the end of February suggests that the large-scale sell-off that began last October has ended.

In addition, long-term investors have also abandoned their selling decisions, and the number of long-term investors, which had decreased in late last year, has started to increase again.

However, Lunde also pointed to persistent macroeconomic uncertainties such as geopolitical tensions in the Middle East, rising oil prices, and reduced expectations of interest rate cuts due to the Fed’s hawkish stance. According to Lunde, these factors are hindering Bitcoin’s rise: “These factors are suppressing risk appetite and limiting the rise.”

*This is not investment advice.