Bitcoin Looks Most  Oversold Since  Covid  Crash,  Key  Indicator Suggests.

Bitcoin's relative strength index has dropped well below 30 to its strongest oversold reading since March 2020.

A technical analysis indicator shows extreme oversold conditions in bitcoin

A technical analysis indicator shows extreme oversold conditions in bitcoin

The latest below-30 or oversold reading on the RSI is a sign of strengthening bearish momentum.

The latest below-30 or oversold reading on the RSI is a sign of strengthening bearish momentum.

Bitcoin changed hands at $26,000 at press time. 

Bitcoin changed hands at $26,000 at press time. 

Prices fell over 10% last week as the yield on the 10-year U.S. inflation-indexed security nearly rose to 2%, hitting the highest since 2009.