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Bitcoin Poised for December Rebound, K33 Research Says
9 Dec
Summary
- Bitcoin ETFs shifted from buyers to sellers in November.
- CME futures activity hit a multi-year low, showing caution.
- K33 Research sees strong historical support for Bitcoin.
Bitcoin's recent price slide has triggered widespread concern, yet K33 Research posits that December may herald a significant upturn. Following its sharpest correction since the last bear market, the firm's analysis indicates a greater likelihood of recovery than further collapse.
The cryptocurrency has been under pressure from structural selling, notably with spot Bitcoin ETFs becoming net sellers in November. Concurrently, CME futures activity has receded to a multi-year low, reflecting hesitation from traditional finance. Bitcoin's performance has lagged equities, reaching its weakest point against the Nasdaq since late 2024.
K33 Research contends the market is overreacting to potential long-term risks while overlooking immediate signs of strength. They point to Bitcoin trading near historical support zones of $70,000 to $80,000, with cautious positioning in futures markets and low leverage in perpetual contracts. Fears regarding quantum computing or Tether's stability are considered distant and unlikely to impact current prices.
