Bitcoin News tweeted that the Bitcoin RSI indicator hit its lowest value since the FTX crash, indicating that the asset is “oversold,” indicating that BTC prices are in a weak phase.
It is reported that the value of the RSI indicator fluctuates between 0-100. It was invented by American engineer J.Welles Wilder in the 1970s and is one of the most popular tools for stock traders to predict future trends.
During the FTX exchange crash in November 2022, the indicator hit 24.70, when Bitcoin fell to $15,670.