There's one simple way to tell whether bitcoin has really bottomed. Right now, it hasn't.
CoinDesk 2026-06-12 07:57:47
Context: The article discusses the current state of the bitcoin market, specifically focusing on whether it has reached a bottom. The analysis centers around a technical indicator known as the weekly Relative Strength Index (RSI), which is used to gauge market trends and predict potential price movements. The article aims to provide insight into the current market conditions and whether they indicate a future shift towards a bull market.
Key Facts
- Bitcoin's weekly RSI contains a critical level that has reliably separated bull and bear market regimes across multiple cycles, serving as a key indicator for market trends.
- Right now, the indicator has yet to clear that line, suggesting that the market has not yet reached a point where it can be confidently considered to have bottomed.
- The article implies that clearing this line is a crucial step in determining whether the current market downturn is over and a new bull market is beginning.
- No additional information is provided about the specific value of the critical level or the exact RSI reading at the time of writing.
- No specific timeline or expectations are given for when the bitcoin market might clear this line and reach a bottom.