Recent financial press notes, as reported by Cointelegraph via COINOTAG News, indicate that after weeks of heavy selling, Bitcoin may be forming a near-term floor. Market observers argue current conditions could support a move higher toward the $100,000–$110,000 zone, with a stabilization narrative emerging in the cryptocurrency market.
One strategist, Mister Crypto, described the recent phase as a ‘surrender sell-off’ and noted accumulation by large players as fear spikes. He highlighted the RSI on the weekly Bitcoin chart nearing the 30 handle, a setup historically associated with a short-term bottom and a potential reversal, though not a guarantee of a new bull run.
Another factor is the distance to the 50-week moving average near $102,000, which in prior cycles has attracted buyers after dipping below this gauge. The macro backdrop also supports a cautious optimistic stance: expectations that quantitative tightening may ease and a possible rate cut at the next policy meeting could improve conditions for risk assets, including Bitcoin.
Source: https://en.coinotag.com/breakingnews/bitcoin-forms-short-term-bottom-as-rsi-near-30-eyes-rebound-to-100k-110k
