Bitcoin's Downtrend Persists Despite RSI Recovery

Bitcoin's price has shown some resilience after rebounding from its oversold levels, but it remains trapped in a downtrend. According to data, the Bitcoin RSI indicator fell to as low as 30% before recovering to around 50%. This move coincided with a price recovery from $64,645.

Since reaching its June 2025 high of approximately $125,000, Bitcoin has been stuck in a downward channel. The current price is still suppressed by the trendline established at that peak.

Analyst Markus Thielen pointed out this development, noting the correlation between the RSI indicator and the price action.