Bitcoin · Federal Reserve (FED) · Cointelegraph
Conversely, a decisive break below $60,000 would weaken the rebound setup and open the door to a deeper drop toward
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin short-term holders are realizing their largest losses on record, according to Checkonchain data cited by crypto analyst Scott Melker.
Key facts
- After the COVID crash, BTC rose about 1,700% from $3,800 to nearly $69,000
- In February 2026, for instance, BTC’s daily RSI dropped to around 15.86 while price held above the $60,000 support area
- Bitcoin’s latest oversold RSI mirrors 2020 and February 2026 setups that preceded 50% and 30% rebounds, putting $70K back in focus
- In 2020, Bitcoin’s RSI dropped to around 15.56 before BTC rebounded by about 50%, helped by the Federal Reserve’s emergency shift to near-zero interest rates and large-scale bond purchases
Summary
Bitcoin’s latest oversold RSI mirrors 2020 and February 2026 setups that preceded 50% and 30% rebounds, putting $70K back in focus. Bitcoin (BTC) is now flashing its most oversold signal since the COVID-19 crash, raising the odds of a relief rebound toward $70,000 in the coming weeks. Bitcoin’s daily RSI has dropped to around 15.5, its most oversold reading since the March 2020 COVID crash. Similar oversold RSI readings in 2020 and February 2026 preceded sharp relief rebounds of about 50% and 30%, respectively. As of Saturday, Bitcoin’s daily relative strength index (RSI) stood near 15.5, well below the 30 level that typically marks oversold conditions and its lowest reading since the March 2020 market crash.