**[K33 Analyst: Bitcoin May Face Further Downside Risk]** Odaily Planet Daily reported that K33 analysts believe the recent market weakness may not be over. A surge in leverage and a significant shift of funds toward Ethereum could pose further downside risks for Bitcoin. K33 Research Director Vetle Lunde stated in a report on Tuesday that the nominal open interest in Bitcoin perpetual futures has soared to its highest level in two years, exceeding 310,000 BTC ($34 billion). Over the past two months alone, it has increased by 41,607 BTC, with a sharp rise of 13,472 BTC over the weekend, signaling a potential turning point. He explained that this surge, coupled with the annualized funding rate jumping from 3% to nearly 11%, indicates that long positions are becoming increasingly aggressive during a period of relatively stagnant prices. (The Block)