K33: Bitcoin Bear Market Differs This Cycle, Extreme Pessimism Limits Downside

BTC0.53%
According to CoinDesk, K33 Research reported on May 20 that this bitcoin bear market cycle has distinct characteristics, with extremely pessimistic traders limiting further downside. Bitcoin traders remain defensive, reducing leverage-driven crash risks. The research notes that the current slow consolidation has not seen the rapid reversals typical of previous bear market bounces; instead, derivatives data signal extreme pessimism. Bitcoin's 30-day average funding rate has been negative for 81 consecutive days, nearing historical records, while CME bitcoin futures annualized basis has dropped below 2.5%, indicating extreme caution. However, elevated open interest in bitcoin derivatives poses a volatility risk if prices weaken further.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments