BTC weekly RSI hits all-time low, signaling worst-ever oversold state

Nic Puckrin, CEO of the crypto media outlet Coin Bureau, which has around 2.73 million subscribers, stated on his X account that the weekly Relative Strength Index (RSI) for the BTC/USD pair on Bitstamp has reached an all-time low of 25.6. He noted this indicates the BTC market is in its most oversold condition in history. Puckrin highlighted that the RSI has never been this low, falling below the levels seen during the collapses of Terra/Luna and Three Arrows Capital. He suggested that while further declines are possible, a market bottom could be imminent.