The value of Bitcoin has been below intense bearish pressure 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 stage. Curiously, the newest readings of a technical evaluation indicator counsel that the Bitcoin value might need simply reached a backside and may very well 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 value of Bitcoin might need simply entered a purchase zone. This value projection is predicated 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 often used to research whether or not a crypto asset (Bitcoin, on this case) is being overbought or oversold, suggesting a potential value or development reversal.
When the relative power index breaks above 70, it usually 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 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 battle between the US 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 probability that the flagship cryptocurrency might discover help 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% leap 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 ‘Worry’ Zone
The crypto Worry & Greed Index is one other sign suggesting a purchase alternative within the Bitcoin market in the meanwhile. In response to the newest on-chain data from Alphractal, this metric has dropped to 28, signaling robust concern amongst digital asset buyers.
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In the meantime, the Worry & Greed Index of the inventory market is at a impartial stage, which means that pessimism has but to hit the standard markets. With the crypto Worry & 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
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