Main Points Related to Bitcoin, Web3, Ethereum, and Cryptocurrency:
- Bitcoin price declined to $62,300, marking a six-week low
- Bitcoin’s market cap dropped to $1.22 trillion
- RSI indicates Bitcoin is oversold, potential for a price rally
- High trading volume suggests price volatility
- Investors accumulating Bitcoin at $62,000 as a possible bottom
Bitcoin Price Decline:
The Bitcoin (BTC) price has been on a consistent decline for the past two weeks, falling below the $63,000 mark to trade at $62,300 currently. This marks a six-week low for Bitcoin, with the market cap at $1.22 trillion.
RSI and Price Volatility:
The Relative Strength Index (RSI) for Bitcoin is at 35, indicating oversold conditions and a potential price rally. Despite the declining RSI, the surge in daily trading volume suggests high price volatility for Bitcoin. Data also shows investors are accumulating Bitcoin at $62,000 as a possible bottom level.
