Bitcoin weekly RSI falls to most oversold levels since $15K BTC price

Bitcoin’s 36% drawdown from its all-time highs resulted in the relative strength index flashing a potential bottom signal not seen since early 2023.

Bitcoin (BTC) traders expected a short-term bounce as a key BTC price metric sank to its lowest levels in almost three years. Data from Cointelegraph Markets Pro and TradingView revealed extremely “oversold” conditions on the BTC/USD relative strength index (RSI).

Key takeaways:

Bitcoin’s “most oversold” RSI, historically tied to major BTC price rallies, suggests a price reversal in the short term.

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