Bitcoin Rebounds Above $62,000 Amid Record-Low RSI

Bitcoin has experienced a significant rebound in recent days, rising above the $62,000 level after a brief dip below the key $60,000 mark. This recovery follows one of its steepest weekly declines since the 2022 crypto market crash.

The Relative Strength Index (RSI) for Bitcoin fell to a record low near 15.5, indicating an oversold condition that can trigger automatic purchases and attract traders seeking discounted entry points. According to historical data, Bitcoin has posted similar RSI readings during previous market crashes in March 2020 and February 2026.

The recent decline was characterized by a sharp drop in leverage, with nearly $7 billion in leveraged crypto positions reportedly wiped out during the week. Long positions accounted for most losses as Bitcoin briefly dropped to $59,112, its lowest price since October 2024.