The worth of Bitcoin has been underneath intense bearish pressure over the previous week, falling beneath the $110,000 mark on Thursday, September 25. Whereas the premier cryptocurrency has managed to cease bleeding previously day, the BTC worth has struggled to reclaim the psychological $110,000 degree. Apparently, the most recent readings of a technical evaluation indicator recommend that the Bitcoin worth might need simply reached a backside and could possibly be prepared for a rebound.
Has The Bitcoin Worth Reached A Backside?
In a September 26 publish on the X platform, a crypto analyst named after the famend economist Frank Fetter revealed that the value of Bitcoin might need simply entered a purchase zone. This worth projection is predicated on the relative energy index (RSI) indicator on the day by day BTC worth chart.
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The relative energy index is a momentum indicator utilized in technical worth evaluation to evaluate the magnitude and velocity at which an asset’s worth modifications. The RSI oscillator is often used to investigate whether or not a crypto asset (Bitcoin, on this case) is being overbought or oversold, suggesting a attainable worth or development reversal.
When the relative energy index breaks above 70, it sometimes signifies an overbought market situation, with the asset’s worth prone to face promoting stress. In the meantime, an RSI worth beneath 30 implies that the market is in an oversold situation, with worth on the verge of a possible rebound.
In accordance with Fetter, the Bitcoin relative strength index on the daily chart has fallen to its lowest degree because the April worth backside of $74,000. This worth downturn, which was triggered by the tariff conflict between america and China, noticed the RSI oscillator fall beneath the 30 threshold in March.
Since bottoming out on the $74,000 mark and the RSI low in April, the Bitcoin worth has since gone on to set a number of all-time highs. If historical past is something to go by, there’s a likelihood that the flagship cryptocurrency might discover help at its present worth and run up to a new high.
As of this writing, BTC is valued at round $109,331, reflecting a mere 0.2% bounce previously 24 hours. In accordance with information from CoinGecko, the premier cryptocurrency is down by greater than 5% on the weekly timeframe.
Crypto Market Enters ‘Concern’ Zone
The crypto Concern & Greed Index is one other sign suggesting a purchase alternative within the Bitcoin market in the intervening time. In accordance with the most recent on-chain data from Alphractal, this metric has dropped to twenty-eight, signaling robust concern amongst digital asset traders.
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In the meantime, the Concern & Greed Index of the inventory market is at a impartial degree, that means that pessimism has but to hit the normal markets. With the crypto Concern & Greed Index at its lowest degree since April 2025, the divergence from the normal markets suggests potential accumulation alternatives within the digital asset market.
Featured picture from iStock, chart from TradingView