Bitcoin in Historic Oversold Territory, Says Hive Chairman

[ed]

Bitcoin is trading at historically oversold levels, according to Frank Holmes, chairman of Hive. Holmes noted that Bitcoin is currently about two standard deviations below its 20-day trading norm — a rare occurrence seen only three times in the past five years.

Historically, such extremes have favored short-term rebounds over the following 20 trading days, suggesting a potential bounce could materialize despite ongoing volatility.

While short-term uncertainty remains, Holmes emphasized that he remains bullish long term, citing strong fundamentals underpinning Bitcoin’s broader outlook even amid current market jitters.

[cryptobro]

lol bitcoin two std devs below its 20-day norm… feels like the dip everyone’s been waiting for