Bitcoin Could See Correction to $95K: RSI Signals Potential Drop

Despite bullish sentiment surrounding Bitcoin, analysts warn of a potential price drop to $95,000. This prediction is based on recent technical analysis of the Relative Strength Index (RSI), as indicated by crypto expert Ali Martinez. Martinez highlights that historical RSI patterns have shown similar declines in Bitcoin’s prices after crossing below its 14-week Simple Moving Average (SMA). This has prompted concerns about market volatility, potentially affecting other cryptocurrencies like Ethereum. BlackRock’s continued interest in Bitcoin further underscores the significance of institutional involvement in the market despite these signals.