What is Happening???

The RSI of Bitcoin reaches a three-year low amid the price drop

According to Odaily, the Relative Strength Index (RSI) of Bitcoin has reached an extremely 'oversold' state, marking its lowest level in nearly three years. The cryptocurrency has fallen 36% from its all-time high of $126,000 to $80,500, significantly impacting the RSI on higher time frames. On the weekly chart, the RSI has dropped from a local maximum of 64 in September to the current level of 35. This level was last seen in January 2023, when Bitcoin was trading between $15,500 and $17,000 $BTC

BTC

88,555.97

+0.25%