The value 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 up to now day, the BTC worth has struggled to reclaim the psychological $110,000 degree. Curiously, the most recent readings of a technical evaluation indicator recommend that the Bitcoin worth may need simply reached a backside and could possibly be prepared for a rebound.
Has The Bitcoin Value 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 worth projection is predicated on the relative energy index (RSI) indicator on the each 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 pace at which an asset’s worth adjustments. The RSI oscillator is normally used to research whether or not a crypto asset (Bitcoin, on this case) is being overbought or oversold, suggesting a potential worth or development reversal.
When the relative energy index breaks above 70, it sometimes signifies an overbought market situation, with the asset’s worth more likely to face promoting strain. 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 keeping 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 battle between the USA 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 probability that the flagship cryptocurrency may discover assist 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 up to now 24 hours. In keeping 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 for the time being. In keeping with the most recent on-chain data from Alphractal, this metric has dropped to twenty-eight, signaling robust worry 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
