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Bitcoin recovers to $88,000... rebounds from oversold territory
Source: DecenterKorea Original Title: Bitcoin Recovers to $88,000···“Oversold Stabilization Phase” [Decenter Market Report] Original Link: https://www.decenter.kr/NewsView/2H0KTYQ9E7/GZ03
As of 8 AM on the 24th, Bitcoin(BTC) recorded a price of 133,601,000 won in domestic cryptocurrency exchanges, an increase of 4.59% compared to the previous day.
As the large-scale selling pressure eases, the cryptocurrency market is rebounding. Bitcoin has recovered to the $88,000 mark again after three days, making up for some of the losses.
On the 24th, according to the global cryptocurrency market, Bitcoin(BTC) traded at $88,012.95, up 3.22% from 24 hours ago. Ethereum(ETH) also rose by 1.53% to $2,841.21. XRP(XRP) increased by 5.85% to $2.075, while Binance Coin(BNB) recorded a 1.79% rise to $853.97. Solana(SOL) is trading at $132.7, up 3.43%.
The domestic market showed a similar trend. In domestic cryptocurrency exchanges, BTC recorded 133,601,000 won, up 4.59% compared to the previous day. ETH rose 2.94% to 4,308,000 won, and XRP is trading at 3,150 won, up 7.29%.
The analysis suggests that the selling pressure, which peaked over the weekend, has exhausted, forming a bottom, followed by a rebound. Cryptocurrency analysts stated that Bitcoin's Relative Strength Index ( RSI ) has entered an extreme oversold zone, explaining that “Bitcoin also saw short-term rebounds after entering the same zone in March 2023 and 2025.” The RSI is an indicator that measures the relative strength of price movements over the last 14 days; the closer it is to 0, the more it indicates an oversold condition.
However, the investment sentiment in cryptocurrency remains in a state of 'extreme fear.' The Fear and Greed Index for cryptocurrency data analysis has risen by 2 points to 13 points compared to the previous day. This index indicates that the closer it is to 0, the more the investment sentiment is constrained, and the closer it is to 100, the more it signifies market overheating.