Bitcoin daily Relative Strength Index (RSI) touched 17.6 on Thursday, indicating it is in the most oversold condition since the COVID-19 crash in 2020. This extreme reading is similar to levels seen before historic rebounds in 2018 and 2020, suggesting Bitcoin could see a significant rally as over $1.5 billion in leveraged positions have been liquidated and key liquidity pools have been drained.
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Bitcoin daily Relative Strength Index (RSI) touched 17.6 on Thursday, indicating it is in the most oversold condition since the COVID-19 crash in 2020. This extreme reading is similar to levels seen before historic rebounds in 2018 and 2020, suggesting Bitcoin could see a significant rally as over $1.5 billion in leveraged positions have been liquidated and key liquidity pools have been drained.