K33: Concerns in the bitcoin market are exaggerated, policy shift opens up room for mid-term gains

According to ChainCatcher, K33 Head of Research Vetle Lunde pointed out in a market outlook report: The biggest fears facing bitcoin are distant and hypothetical issues, rather than immediate threats, such as quantum risk or the potential sale of BTC by Strategy. Although bitcoin is undergoing its most severe correction since the 2022-23 bear market, the current wave of panic is driven by exaggerated long-term risks rather than any direct structural threats. Excessive derivatives, concentrated selling by long-term holders, and widespread supply distribution are the catalysts that have pushed the market to recent lows.

However, a series of medium-term policy and structural developments could significantly enhance bitcoin's prospects. For example, in February 2026, U.S. regulators will introduce new 401(k) pension plan guidelines, allowing cryptocurrencies to be allocated in the $9 trillion retirement market.