According to COINOTAG News, referencing Cointelegraph, Bitcoin‘s weekly RSI has slipped into deeply oversold territory, suggesting a potential near-term reprieve for buyers. Traders note the reading sits in the low 30s, marking the most extreme condition in nearly three years and feeding expectations of a technical bounce.

On the weekly chart, the RSI has fallen from 64 in September to around 35, a level last observed in January 2023 when Bitcoin traded near 15,500–17,000. Analyst Jelle cautions that such readings historically warrant watching for potential bottoming or renewed downside.

Mister Crypto noted that Bitcoin‘s Stochastic RSI shows the deepest oversold condition in the period, implying a higher probability of a short-term rebound. With risk controls in place, market participants will monitor price action around key supports before adding exposure.