Panic selling by short-term holders, combined with the RSI near record lows, suggests that BTC could be transitioning into a full capitulation regime.
Bitcoin (BTC) sellers resumed their activity on Tuesday as the BTC price dropped 4% in 24 hours to an intraday low of $62,700.
Analysts said that Bitcoin has entered an “excess loss-realization” phase, with the relative strength index (RSI) suggesting that a price bottom may be forming.
Key takeaways:
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