Bitcoin's price has fallen by nearly 30% from its May high, and it's now trading at its lowest levels since September 2024. The cryptocurrency is testing a critical long-term support zone that could determine whether the broader selloff stabilizes or accelerates.
The Relative Strength Index (RSI) divergence suggests that downside momentum may be fading, raising the threat of an exhaustion low. A break lower would signal a more significant trend reversal and expose deeper downside targets.
Bitcoin is approaching a major technical inflection point where volatility and directional risk are likely to increase. Buyers need to defend this support zone to spark a recovery attempt or face another accelerated leg of the decline.