K33 research team leader Vetle Lunde recently shared an interesting perspective in his December market report—the Bitcoin risks that many people are currently worried about are actually distant hypothetical issues, not immediate problems.

While BTC has indeed dropped sharply lately, marking the steepest correction since the 2022-23 bear market, a closer look reveals that this wave of panic is mostly amplified by long-term concerns rather than any structural, fatal threat. The real factors that pushed the price down to recent lows are actually three specific things: excessive hype in the derivatives market, concentrated selling by veteran holders, and overly dispersed distribution of coin-holding addresses.

That being said, there’s still some hope in the mid-term. For example, the new 401(k) pension plan guidelines in the US, set for February 2026—if implemented, could bring substantial capital inflow to Bitcoin. Once policy and structural factors fall into place, market expectations could completely turn around.