K33 Research Predicts Potential Bitcoin Rebound in December
- Bitcoin’s price recently slid to $89,274.20, marking its steepest correction since the last bear market.
- Spot bitcoin exchange-traded funds (ETFs) transitioned from net buyers to net sellers in November.
- CME futures activity has fallen to a multi-year low, indicating hesitance from traditional finance (TradFi) investors.
- Bitcoin is currently trading near strong historical support levels between $70,000 and $80,000.
- Long-term risks such as quantum computing and potential sales by major players are not expected to impact prices imminently.
Despite current market caution, K33 Research suggests that supportive policy changes may enhance structural upside for Bitcoin. The firm emphasizes that the current valuation reflects fear rather than fundamentals.
With Bitcoin recently at $89,274.20 and showing signs of historical support around $70,000 to $80,000, K33’s outlook indicates a possible recovery ahead for the cryptocurrency market.
