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Crypto

Bitcoin posts strongest oversold signal since 2020; is $70,000 next?

Bitcoin is showing its strongest oversold signal since the March 2020 COVID-19 market shock, drawing renewed attention to a possible rebound toward $70,000. Its daily relative strength index fell to about 15.5, well below the 30 level often seen as oversold. The signal follows a roughly 30 percent decline over the past month. Markets are focused on whether $60,000 holds, with upside seen near the 20-day exponential moving average at $70,650.

Crypto

Bitcoin cycle indicator turns bullish after 26 months; CPI data seen as turning point

A bitcoin bull-bear cycle indicator has moved out of the bearish zone for the first time in about 26 months, marking an early bullish signal not seen since March 2023. CryptoQuant data and a 30-day moving average point to improving momentum, while bitcoin also reclaimed the $78,000 level. Analysts cautioned the signal may not immediately lead to a new bull market. Investors are watching U.S. CPI data due before Wall Street opens.

Crypto

Bitcoin faces $79,200 test; breakout to set short-term direction

Bitcoin has climbed above $78,000, with the $78,200 and $79,200 areas emerging as key resistance levels that could determine short-term direction. Market watchers are focused on an on-chain “real market mean price” around $78,200 tracked by Checkonchain, and the short-term holder realized price near $79,200. Analysts say failure to clear these levels could prolong the recent range-bound move, while a sustained break above them could strengthen an upward trend.