Bitcoin · Cointelegraph
Bitcoin weekly close above $63K amid RSI divergence may be bottom signal: Data
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Bitcoin's repeated weekly candle close above $63,000 align with signals that may mark a market bottom.
Key facts
- Spot Bitcoin ETF flows show a similar shift with $5.5 billion leaving the spot ETFs between May 15 and June 11
- One exception came in November 2025, when the price spent roughly 10 weeks moving sideways above $88,000 before breaking lower to the $60,000 level
- Bitcoin (BTC) continues to exhibit a strong technical setup after holding a weekly close above $63,000 for three consecutive weeks since tagging a new 2026 low near $59,000
- Crypto analyst Woominkyuu noted that total Bitcoin open interest across exchanges peaked at $25.96 billion on June 1, then fell to $20.89 billion by June 21
Summary
Bitcoin (BTC) continues to exhibit a strong technical setup after holding a weekly close above $63,000 for three consecutive weeks since tagging a new 2026 low near $59,000. At the same time, Bitcoin futures open interest has fallen 19.5% from its June peak, funding rates have cooled to 0.02% from 0.1%, and spot Bitcoin exchange-traded fund (ETF) outflows have slowed sharply to $540 million over the past two weeks from $5.5 billion the prior month. Together, the data points to a market that is shedding excess selling pressure while holding near a key support zone for BTC. Bitcoin's recent weekly price action resembles a pattern seen several times since 2023.