Markets· ★★★· neutral·

CryptoQuant: Bitcoin exits weakness zone, but RSI signals overbought

  • —CryptoQuant's bubble-versus-crash indicator has exited the extreme bubble and crash zone
  • —Bitcoin's RSI is in overbought territory, Bollinger Bands are widening
  • —JPMorgan: hedges and shorts on BTC ETFs provide downside protection, their unwinding could release $1 trillion
  • —BTC traded at $78,240 after a 2.5% daily gain
Why it matters: Unwinding hedges and a short squeeze could accelerate BTC's rise, but overbought conditions increase the risk of a pullback.
#BTC
Source: AMBCrypto
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