The value of Bitcoin has been below intense bearish stress over the previous week, falling under the $110,000 mark on Thursday, September 25. Whereas the premier cryptocurrency has managed to cease bleeding previously day, the BTC value has struggled to reclaim the psychological $110,000 degree. Apparently, the newest readings of a technical evaluation indicator counsel that the Bitcoin value may need simply reached a backside and might be prepared for a rebound.
Has The Bitcoin Worth Reached A Backside?
In a September 26 put up on the X platform, a crypto analyst named after the famend economist Frank Fetter revealed that the worth of Bitcoin may need simply entered a purchase zone. This value projection relies on the relative power index (RSI) indicator on the each day BTC value chart.
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The relative power index is a momentum indicator utilized in technical value evaluation to evaluate the magnitude and velocity at which an asset’s value adjustments. The RSI oscillator is normally used to investigate whether or not a crypto asset (Bitcoin, on this case) is being overbought or oversold, suggesting a doable value or development reversal.
When the relative power index breaks above 70, it sometimes signifies an overbought market situation, with the asset’s value more likely to face promoting stress. In the meantime, an RSI worth under 30 implies that the market is in an oversold situation, with value on the verge of a possible rebound.
In accordance with Fetter, the Bitcoin relative power index on the each day chart has fallen to its lowest degree because the April value backside of $74,000. This value downturn, which was triggered by the tariff battle 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 value 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 may discover help at its present value and run as much as a brand new excessive.
As of this writing, BTC is valued at round $109,331, reflecting a mere 0.2% bounce previously 24 hours. In accordance with knowledge from CoinGecko, the premier cryptocurrency is down by greater than 5% on the weekly timeframe.
Crypto Market Enters ‘Worry’ Zone
The crypto Worry & Greed Index is one other sign suggesting a purchase alternative within the Bitcoin market for the time being. In accordance with the newest on-chain knowledge from Alphractal, this metric has dropped to twenty-eight, signaling robust worry amongst digital asset traders.
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In the meantime, the Worry & 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 Worry & 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
