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Bitcoin velocity RSI suggests exhausted selling pressure, though elevated trader positioning urges caution on potential recovery.
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There’s a debate heating up in crypto circles right now. Bitcoin is showing one of those technical signs that typically points to a market bottom, but the way traders are actually behaving tells a more complicated story.
Bitcoin’s velocity RSI, a twist on the classic momentum indicator, has dropped to levels we haven’t seen since the exhaustion phases of previous bear markets. Historically, when this reading hits these depths, the selling pressure tends to dry up pretty quickly. Think of it like watching a marathon runner hit that wall where their body just won’t let them push any harder, no matter how much they want to.
