Bitcoin RSI Signals Oversold Condition, Potential Rebound Expected

The price of Bitcoin has experienced intense bearish pressure, dropping below $110,000 as of September 25. Although it stabilized slightly, BTC is struggling to regain this psychological level. Technical analysis indicates Bitcoin might have reached a bottom and could be ready for a rebound.

Key Insights on Bitcoin's Price Movement

A crypto analyst suggests Bitcoin may have entered a buy zone based on the relative strength index (RSI) indicator.
RSI is a momentum indicator that helps determine if an asset is overbought or oversold.
The Bitcoin RSI has dropped to its lowest since April's $74,000 price bottom.
Historically, similar RSI conditions preceded multiple all-time highs for Bitcoin.
Currently, Bitcoin is valued at approximately $109,331, with a slight 0.2% increase in the past 24 hours but down over 5% weekly.

Crypto Market Sentiment

The Crypto Fear & Greed Index has fallen to 28, indicating strong fear among investors.
This metric diverges from the stock market's neutral sentiment, suggesting potential accumulation opportunities in digital assets.