📊 #K33Research : $BTC futures open interest (OI) is down 11% (yearly low) and altcoins are down to their lowest since February 2023.

📊 $BTC #K33Research : 3Q is historically the weakest period for bitcoin, while 4Q is the strongest.

🤔 $BTC #K33Research : The market will have to absorb $4 billion to $7 billion of bitcoin selling pressure throughout the middle of the year, which will weigh on prices.

We expect these flows to burden performance in the months to come and the choppy market conditions to last until October.

📊 #K33Research : Market conditions look ripe for a short squeeze. Notional open interest in $BTC has jumped by 30k BTC since August 13th, with funding rates persistently negative. Weekly average funding rates have reached their deepest negative level since March 23rd.