ChainThink report, March 4: According to The Block, crypto research and brokerage firm K33 states that after months of sustained selling pressure, Bitcoin has entered one of the most oversold weekly intervals in its history. There is currently no compelling rationale to sell Bitcoin at current price levels.

In his latest report, K33 Research Head Vetle Lunde wrote: "If you're going to be wrong, follow the crowd." He noted that bearish sentiment pervades the crypto derivatives market, with investor positioning clearly skewed toward defense. After six consecutive weekly declines and five consecutive monthly losses—the longest downtrend in Bitcoin’s history—its weekly Relative Strength Index (RSI) recently dropped to 26.84, marking the third-lowest level ever recorded.

The report highlights that this downturn has primarily been driven by sell-offs from long-term holders and institutional investors. In Q4 2025, the supply held for more than six months saw a significant decline; meanwhile, exchange-traded investors (such as ETF holders) reduced their holdings by nearly 100,000 BTC, and CME Bitcoin futures open interest fell to a two-year low. However, Lunde indicated that these outflows have recently begun to slow.