K33 Detects Signs of Bitcoin Reversal After 68 Days of Consolidation

Negative funding rates and rising bitcoin prices set the stage for a short squeeze, say K33 analysts.

The negative funding rate in the derivatives market, coupled with the rising prices of the leading cryptocurrency, sets the stage for a short squeeze. This was stated by analysts at K33. 

According to the head of research at the company, Vetle Lunde, the funding for bitcoin futures has been negative for 46 consecutive days. A similar trend was observed near the bottom of the bear phase at the end of 2022. 

“The compression of funding rates and the unusually persistent negative regime increase the chances that digital gold will break through the 68-day consolidation and set new highs,” the expert stated.

A similar view was shared by MN Trading founder Michaël van de Poppe. He believes that if bitcoin’s price holds above $75,000, the next resistance zone to be tested will be $85,000-88,000. 

The markets are preparing for a short squeeze on #Bitcoin.

The markets have rallied to $75,000 and rejected there. A ‘shooting star’ was made on the daily timeframe, and people freaked out.

However, that’s not the only indicator that we should be looking at.

The funding rate… pic.twitter.com/1g3SAMFaOf

— Michaël van de Poppe (@CryptoMichNL) April 15, 2026

“On lower timeframes, the market is forming higher lows and highs — a sign of sustained interest in the asset. As long as the rate stays above $72,000, there is nothing to worry about,” he shared. 

Historical Context

The combination of rising open interest and bitcoin price with negative funding rates has been observed near consolidation lows multiple times. 

“The current positioning of crypto investors aligns with these conditions. Therefore, we have emphasized the importance of funding regimes in our reports over the past month and maintain a bullish outlook on the leading cryptocurrency,” Lunde noted.

According to K33, only two periods in history have been longer in terms of continuous negative 30-day funding rates: March-May 2020 (63 days) and June-August 2021 (49 days).

At the time of writing, bitcoin is trading around $74,000. Over the past 24 hours, the asset’s price has decreased by 1.9%. 

According to analysts at Alphractal, the cryptocurrency is approaching key resistance levels: the average price of active supply and the realized price of short-term holders. 

Bitcoin is approaching key on-chain cost resistance levels such as the True Market Mean Price and the STH Realized Price.

It is important to monitor this region, as historically these levels have acted as resistance during Bear Market phases.

See more at https://t.co/MgcOqab771 pic.twitter.com/q2lsp81FBW

— Alphractal (@Alphractal) April 14, 2026

“This area should be closely watched — it has historically been insurmountable during bear markets,” the experts wrote. 

In April, Bitwise stated that the conflict in Iran has brought bitcoin closer to becoming a real settlement medium. Experts described the $1 million price level as “baseline” for the cryptocurrency.