Bitcoin Likely Bottomed at $60K Amid Capitulation Signals, Says K33


Research firm K33 identified last week's $60,000 level as a high-probability local bottom for $BTC based on extreme readings across multiple market indicators. The brokerage cited #capitulation-like conditions in spot trading, exchange-traded funds, and derivatives markets during the selloff.


K33 Head of Research Vetle Lunde pointed to a vast list of extreme outliers defining the price movement in a report published late Tuesday. Trade volumes reached 95th percentile levels while funding rates collapsed to depths last observed during the March 2023 U.S. banking crisis.


Options skews rose to levels only seen during the most intense stress periods of the 2022 bear market. The readings compare to conditions during the Luna collapse, 3AC contagion unwind, and FTX #bankruptcy, according to the analysis.


#Bitcoin's daily Relative Strength Index fell to 15.9 after persistent selling since Jan. 20, marking the sixth-most oversold reading since 2015. Only March 2020 and November 2018 printed lower RSI levels, with both episodes coinciding with major #cycle lows.


The Crypto Fear & Greed Index dropped to 5 during the sell-off, representing its second-lowest reading ever. The sentiment gauge underscored the depth of pessimism surrounding $BTC movement toward the $60,000 price level.


Two-day Bitcoin spot volume reached $32 billion on Feb. 6, among the highest ever recorded. Back-to-back 95th percentile volume days on Feb. 5 and 6 had occurred only once in the past five years during the #FTX collapse, Lunde wrote.

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February 12, 2026 at 12:58 AM
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