Bitcoin correction enters watch zone as RSI breaks below average: CryptoQuant
Crypto Briefing
Bitcoin's monthly RSI dropping below long-term averages signals a potential transition from correction to a deeper bearish phase.Summary
Bitcoin is facing increased risk of a prolonged bearish period as its monthly Relative Strength Index (RSI) has fallen to 56.5, dipping below its 12-month average (67.3) and nearing the four-year average (58.7) for the first time since 2022. According to CryptoQuant analyst Axel Adler Jr., historical data from 2018 and 2022 shows that when the monthly RSI breaks below this long-term trend level, it often marks the transition from a routine correction into a deeper bearish phase. This momentum shift follows a 20% decline for Bitcoin over the last three months, coinciding with investors rotating toward hard-asset hedges like gold and silver, which have seen significant rallies.
(Source：Crypto Briefing)