Bitcoin momentum gauge hints at recovery. Experts remain cautious.
Key takeaways
- The cryptocurrency's 14-day RSI has dropped below 30, a textbook oversold reading.
- While a reading below 30 suggests bearish momentum is dominant, analysts often read this as a sign that the selloff has been too rapid and could stall, allowing for a recovery.
- Oversold readings in early February, November 2025, late February 2025, and August 2024 marked interim or major price bottoms.
Experts remain cautious.Your day-ahead look for June 3, 2026By Omkar Godbole|Edited by Sheldon Reback Jun 3, 2026, 11:19 a.m. 3 min read Make preferred on 'Blood is in the water,' some analysts warn as RSI gauge suggests a rebound. (Gerald Schombs/Unsplash)What to know: This is an excerpt from Coin Desk newsletter 'Daybook.' Sign up here, if you haven't already.
Bitcoin BTC$67,068.10 and the broader crypto market steadied Wednesday from Tuesday's slide after Strategy (MSTR), the largest publicly listed bitcoin holder, sold a small portion of its stash and spot ETFs extended a record run of net outflows.
The cryptocurrency's 14-day RSI has dropped below 30, a textbook oversold reading. The indicator measures the speed and magnitude of price movement over a two-week period.