K33 Research: The cryptocurrency market may face a selling pressure of 40-70 billion dollars in Bitcoin mid-year

K33 Research indicates that the market will have to withstand a Bitcoin sell-off pressure of $4 billion to $7 billion in mid-year, which will put pressure on prices. Markus Thielen, founder of 10x Research, suggests that BTC could reach $60,000, but this rise would be short-lived. From a technical analysis perspective, the range of $55,000-$56,000 is forming a base; however there won't be any tactical bullish counter-trend rebound in the short term.