The worth of Bitcoin has been beneath 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 value has struggled to reclaim the psychological $110,000 stage. Curiously, the most recent readings of a technical evaluation indicator recommend that the Bitcoin value might need simply reached a backside and may very well 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 might need simply entered a purchase zone. This value projection relies on the relative power index (RSI) indicator on the every 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 pace at which an asset’s value modifications. 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 attainable value or development reversal.
When the relative power index breaks above 70, it usually signifies an overbought market situation, with the asset’s value prone to face promoting stress. In the meantime, an RSI worth beneath 30 implies that the market is in an oversold situation, with value on the verge of a possible rebound.
In response to Fetter, the Bitcoin relative strength index on the daily chart has fallen to its lowest stage for the reason that April value backside of $74,000. This value downturn, which was triggered by the tariff struggle 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 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 might discover assist at its present value and run up to a new high.
As of this writing, BTC is valued at round $109,331, reflecting a mere 0.2% soar previously 24 hours. In response to knowledge 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 mean time. In response to the most recent on-chain data from Alphractal, this metric has dropped to twenty-eight, signaling sturdy worry amongst digital asset buyers.
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In the meantime, the Concern & Greed Index of the inventory market is at a impartial stage, that means that pessimism has but to hit the standard markets. With the crypto Concern & Greed Index at its lowest stage since April 2025, the divergence from the standard markets suggests potential accumulation alternatives within the digital asset market.
Featured picture from iStock, chart from TradingView