Bitcoin has fallen below $100,000 on Thursday, and is currently stabilized near $96,000. The price is down more than 11% over the past month. It still remains in positive territory year-on-year, but by just 5%.
The decline comes as spot ETF flows turn negative and broader risk sentiment continues to weaken. Trading volume is down by over 36% compared to a month ago, and Bitcoin has now erased nearly all its strong momentum from recent months.
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Momentum Indicators
RSI: Oversold
The Relative Strength Index (RSI) tracks how strong recent price movements are. A lower number indicates selling pressure. Today, RSI(14) is at 33, slightly up from 30 yesterday, and RSI(7) is at 29. This puts Bitcoin in technical oversold territory, suggesting recent selling has been stronger than usual.
MFI: Oversold
The Money Flow Index (MFI) uses price and volume to identify buying or selling pressure. With MFI(14) at 26, Bitcoin is also in oversold territory on this metric. One week ago, the reading was 38, showing a gradual drop in demand.
Fear & Greed Index: Extreme Fear
The broader market sentiment is reflected in the Fear & Greed Index, which currently sits at 10. Value this low has been reached only once in the last three years, in February. It indicates extreme caution among investors and signals risk aversion across the crypto space.
Read also: How To Use Crypto Fear and Greed Index To Your Advantage?
Moving Averages
SMA & EMA: Bearish
Short- and medium-term moving averages are now above the current price. The SMA(9) stands at 101,256, while the EMA(9) is at 100,367. The longer SMA(26) and EMA(26) are at 106,283 and 105,061 respectively. Bitcoin remains below all of these levels, a setup often seen during bearish phases.
Bollinger Bands: Increased Volatility
Bollinger Bands track volatility and potential breakout zones. The upper band is at 115,343, while the lower band is at 94,679 – just below the current price. Price movement near the lower band may suggest short-term oversold conditions, though it also reflects increased volatility.
Trend & Volatility Indicators
ADX: Strengthening Trend
The Average Directional Index (ADX) measures the strength of a trend. Today’s value of 33, up from 28 last week, points to a strengthening trend – in this case, aligned with the recent downtrend.
ATR: High Volatility
The Average True Range (ATR), currently at 4125, shows elevated volatility. It has remained high for several days, suggesting traders should expect wide price swings in the near term.
AO: Negative Momentum
The Awesome Oscillator (AO), used to confirm trend momentum, is currently negative at -7089, down from -5635 yesterday. The indicator supports a bearish momentum view, though slightly improved from one week ago when it was -8649.
VWAP: Price Below Weighted Average
The Volume Weighted Average Price (VWAP) is at 111,332, well above the current price. When an asset trades significantly below VWAP, it suggests weaker market positioning and less institutional participation at current levels.
Read also: Michael Saylor Denies Strategy Bitcoin Dump After Wallet Moves
What’s Next?
Technical indicators are broadly aligned in signaling continued weakness, with multiple metrics in oversold or bearish territory. Moving averages, trend strength tools, and momentum oscillators all reflect the recent drop and lack of upward pressure.
At the same time, sentiment indicators show unusually high levels of fear, and trading volume has declined sharply. These readings may increase the possibility of volatility in both directions, especially if market conditions change or new developments occur.
