Bitcoin (BTC) traders, those eternal optimists who’ve clearly never read the fine print of “market corrections,” expected a short-term bounce 🚀 as a key BTC price metric sank to its lowest levels since the Stone Age-or 2023, whichever’s closer. Data from CryptoMoon Markets Pro and TradingView revealed the BTC/USD relative strength index (RSI) looking like it had just been asked to explain taxes to a goldfish. In short: extremely oversold.
Key takeaways (because you’re busy):
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📉 Bitcoin’s RSI: The “I Give Up” Button for Traders. Historically tied to rallies? Sure. A reliable indicator? As dependable as a screen door on a submarine. 🚪
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🧮 Network Value-to-Transaction Ratio: Because Bitcoin Shouldn’t Be This Cheap. Yet here we are. 🧾
BTC price dip sends RSI back to 2023… and existential dread
Bitcoin’s 36% drop to $80,500 on Nov. 21 from its all-time high of $126,000 felt like watching a soap opera where the main character suddenly remembers they left the oven on. The weekly RSI plummeted from 64 in September to 35-levels last seen when Bitcoin was busy being a humble $15,500 paperweight. 🧱
“Historically, when the weekly RSI tags this level, it’s time to pay attention,” said analyst Jelle, who clearly hasn’t heard of the concept of “taking a nap.” He added:
“Either we’re close to a bottom, or we’re in for a lot more pain soon enough.”
RSI measures trend strength, with three key levels: 30 (oversold), 50 (midpoint), and 70 (overbought). Crossing them? Like trying to interpret modern art. During bull markets, ETH spends more time in overbought territory than a sunbather in Tenerife. ☀️
“Bitcoin looks the most oversold it’s been all cycle,” said Mister Crypto, who’s probably just mad he didn’t buy the dip. Yet. 🤷♂️
“A bounce is very likely.”
Not everyone’s buying the hype. “When $BTC was this oversold in 2018, it dumped another 49%,” said YouTuber Lark Davis, who’s basically the Eeyore of crypto. “In 2022, it dumped another 58%. 😤”
“These bottoms can take way longer to form than you think, and they can bring more pain than you think.”
As CryptoMoon reported, liquidity clusters above the spot price like a group of teenagers avoiding eye contact on a bus. Supports a short-term reversal? Maybe. Or just wishful thinking. 🧸
Bitcoin is currently undervalued at $87,000… or is it?
CryptoQuant claims Bitcoin’s NVT Golden Cross dropped to -0.6, “a zone that reflects structural undervaluation.” The metric inched up to -0.32, like a sloth realizing it’s late for brunch. 🐌
“The present setup points to a market transitioning from deep undervaluation toward equilibrium,” said analyst MorenoDV_, which sounds fancy until you realize it’s just “market speak” for “shrug.”
“A phase historically associated with accumulation and structurally healthier price discovery.”
“Price is now recovering, but valuation is still discounted relative to usage,” said analyst CryptosRus, who’s either a genius or sleep-deprived. “That setup has only shown up a handful of times in Bitcoin’s history.”
“Spoiler: The last two times? 60% and 350% rallies. Choose your own adventure.” 📚
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2025-12-19 16:48