Bitcoin's decline offers hope for December.

K33 Research's Assessment of Bitcoin

K33 Research points out that Bitcoin's (BTC) sharp correction has tested its bottom levels and that December could be a turning point. The research firm argues that the market has overreacted to long-term risks while ignoring strong short-term signals.

Among these strong signals are low leverage ratios and solid support levels. K33 Research also mentions that potential policy changes in the future and cautious positioning in the futures market provide more upside potential for Bitcoin.

Overall, the firm believes the risk of another major crash is weak under the current market conditions.