Bitcoin (BTC) price RSI momentum gauge hints at recovery. Experts remain cautious: Crypto Daily
Bitcoin and the broader crypto market stabilized after Tuesday’s drop, helped by an oversold technical signal as bitcoin’s 14-day RSI fell below 30. That level often suggests momentum is stretched to the downside and can precede a bounce, with prior oversold readings marking temporary or major bottoms. Still, analysts are cautious. Weakening institutional and corporate demand, ongoing spot ETF outflows, and Fed rate concerns are weighing on sentiment. One view sees $60,000 as the next key support; a break below it could open a move toward $45,000 in a deeper capitulation scenario tied to bitcoin’s four-year cycle. QCP Capital also pointed to rising implied volatility, signaling increased demand for downside protection rather than aggressive dip buying. BTC needs to hold above about $67,000 to improve bullish sentiment.
