<ul>
<li>比特币最近未能突破接近 $83,000 的 200 日移动平均线，重新引发了对再次急剧下跌的担忧，但 K33 Research 指出，与以往的熊市相比，当前的市场格局明显不同。</li>
<li>衍生品的持仓显示出异常持久的悲观情绪，这种情绪更像是价格底部而非熊市反弹。</li>
<li>该公司表示，其基本判断仍然是，比特币在 2 月份跌至 $60,000 标志着本轮周期的最深回调。</li>
</ul>

MARA

RIOT

MSTR

<p>K33 Research 强调了当前比特币熊市中的不同情况，指出交易者之间持续的悲观情绪表明价格底部的可能性，而不是典型的熊市反弹。尽管比特币在突破 $83,000 的关口上遇到困难，并且对下跌的担忧依然存在，该公司认为二月份跌至 $60,000 是本轮周期中最深的回调</p>

<ul>
<li>Bitcoin’s recent failure to break above its 200-day moving average near $83,000 revived fears of another sharp downturn, but K33 Research noted a markedly different setup than in previous bear markets.</li>
<li>Derivatives positioning show unusually persistent pessimism that resembles price bottoms instead of bear market rallies.</li>
<li>The firm said its base case remains that bitcoin’s February drop to $60,000 marked the deepest drawdown of the cycle.</li>
</ul>
<div class="lb-trans"><ul>
<li>比特币最近未能突破接近 $83,000 的 200 日移动平均线，重新引发了对再次急剧下跌的担忧，但 K33 Research 指出，与以往的熊市相比，当前的市场格局明显不同。</li>
<li>衍生品的持仓显示出异常持久的悲观情绪，这种情绪更像是价格底部而非熊市反弹。</li>
<li>该公司表示，其基本判断仍然是，比特币在 2 月份跌至 $60,000 标志着本轮周期的最深回调。</li>
</ul>
</div>

This bitcoin bear market is different with 'uniquely pessimistic' traders limiting downside, K33 says

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K33 表示，这次比特币熊市与以往不同，‘独特悲观’ 的交易者限制了其下行空间