"Bitcoin (BTC) enters oversold RSI level... presents buying opportunity at bottom"

JH Kim

Summary

Bitcoin's Relative Strength Index (RSI) has entered a rare oversold state, which analysts interpret as a buying opportunity at the bottom.
Bitwise Europe's Head of Research indicated that the current bull market is not over yet, considering price movements following Bitcoin's halving.
With increasing institutional investor BTC holdings confirmed, analysts emphasize that investors should not be overly reactive to price fluctuations.

According to cryptocurrency media CoinTelegraph on the 25th (local time), Bitcoin (BTC)'s Relative Strength Index (RSI) has fallen below 27.

The media explained, "This is a level not seen since BTC's price crash on August 5th last year (local time)," adding that "At that time, BTC fell to $49,000. Historically, it's very rare for RSI to show such an oversold condition, which can be seen as an opportunity to buy at the bottom."

Andre Dragosh, Head of Research at Bitwise Europe, commented on this, saying "What investors need now is patience," and analyzed that "Looking at Bitcoin's price movements after previous halving events, the bull market in this cycle is not over yet."

Crypto analyst Tuur Demeester emphasized that "We shouldn't be swayed by Bitcoin's price movements," noting that "Institutional investors are actively moving, as evidenced by the steady increase in BTC holdings among listed companies."

Meanwhile, BTC is trading at $88,409.55 on the Binance USDT market as of 06:02 on the 26th, down 5.93% from the previous day.