Bitcoin weekly close above $63K amid RSI divergence may be bottom signal: Data
Bitcoin is showing a possible bottom-building pattern after holding weekly closes above $63,000 for three straight weeks following a low near $59,000. The chart resembles prior reversal zones, including a positive RSI divergence around current support. Market pressure is easing: Bitcoin futures open interest has dropped 19.5% from its June peak, funding rates have cooled to 0.02% from 0.1%, and spot ETF outflows have slowed sharply to about $540 million over two weeks from $5.5 billion in the prior month. This suggests leveraged excess is being flushed out rather than rebuilt. Onchain signals are also constructive. Long-term holder realized supply has risen to 12.42 million BTC, implying supply maturation, while a key sales-pressure metric has stayed inactive for 1,256 days, the longest on record.
