Bitfinex: Bitcoin's Weekly Decline Hits Highest Since FTX Crash, Weekly RSI Indicates Severe Oversold Market

BlockBeats News, February 6th, Bitfinex announced that Bitcoin has just recorded its largest weekly drop since the FTX crash at the end of 2022, with the weekly RSI rising to (or touching) levels higher than the pressure level after the FTX event.

It is important to note that RSI hitting bottom does not necessarily mean that the price will bottom out at the same time, but it does indicate that the current market is in a severe oversold condition.