Bitcoin Weekly RSI Returns to Oversold Level, Lessons from June 2022

2026-02-13 00:13:15

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Recent technical analysis indicates that Bitcoin’s weekly Relative Strength Index (RSI) is in an alarming oversold condition. Chart data shows this level was last seen in June 2022, a dark period in Bitcoin’s market history. This comparison evokes memories of one of the worst crashes experienced by the world’s largest digital asset.

Selling Pressure Similar to June 2022

In June 2022, Bitcoin faced a record-breaking downturn. The cryptocurrency’s price plummeted 41% during that month, dropping sharply from $31,700 to just $18,700. The persistent selling at that time created an oversold condition at extreme RSI levels. Now, a similar pattern is beginning to appear on traders’ analysis screens, raising questions about whether Bitcoin will experience a repeat scenario or if it will find recovery momentum.

Current Market Context

According to the latest data, Bitcoin is priced at $66.27K, down 30.81% over the past 30 days. This ongoing selling pressure has resulted in an oversold condition on the weekly RSI, reflecting highly negative market sentiment. However, history shows that extreme oversold levels often serve as potential turning points. The comparison to June 2022 provides important context: although that was the worst period, Bitcoin later recovered and reached much higher levels several years afterward. Traders and investors should consider that an oversold condition is not only a warning signal but also a moment when high-quality buying opportunities may emerge.

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