Bitcoin Forms Short-Term Bottom as RSI Near 30, Eyes Rebound to $100K–$110K

Recent financial press notes, as reported by Cointelegraph via COINOTAG News, indicate that after weeks of heavy selling, Bitcoin may be forming a near-term floor. Market observers argue current conditions could support a move higher toward the $100,000–$110,000 zone, with a stabilization narrative emerging in the cryptocurrency market.

One strategist, Mister Crypto, described the recent phase as a ‘surrender sell-off’ and noted accumulation by large players as fear spikes. He highlighted the RSI on the weekly Bitcoin chart nearing the 30 handle, a setup historically associated with a short-term bottom and a potential reversal, though not a guarantee of a new bull run.

Another factor is the distance to the 50-week moving average near $102,000, which in prior cycles has attracted buyers after dipping below this gauge. The macro backdrop also supports a cautious optimistic stance: expectations that quantitative tightening may ease and a possible rate cut at the next policy meeting could improve conditions for risk assets, including Bitcoin.