A key Bitcoin price indicator is screaming “generational buy opportunity,” while several analysts encourage traders to zoom out and see the bigger picture.
Bitcoin’s sharp sell-off continued on Feb. 25, with BTC
Data from the Conference Board’s Consumer Confidence Index highlighted growing pessimism from US consumers as the metric fell to 98.3 in February, representing the largest monthly drop since August 2021.
In addition to increasing worries about the US labor market and inflation, Cointelegraph analyst Marcel Pechman cited President Trump’s upcoming tariffs against imports from Canada and Mexico as another factor driving investors to adopt a risk-off strategy.
Bitcoin analysts say don’t doubt, zoom out
While over $1.59 billion has been liquidated from the total crypto market over the past 24 hours, several crypto advocates have encouraged investors to zoom out and see the larger picture.
Total crypto market liquidations. Source: CoinGlass
On the daily timeframe, Bitcoin’s relative strength index has fallen below 27, a level not seen since the Aug. 5, 2024 crash, which saw BTC price fall to $49,000. Historically, on Bitcoin’s longer timeframes, deeply oversold RSI conditions are rare and often turn out to be opportunities to buy at a discount.
BTC/USD Coinbase 1-day chart. Source: TradingView
Despite Bitcoin’s subpar short-term performance, Bitwise European head of research André Dragosch encouraged patience and referenced a chart of BTC’s post-halving performance, which suggests the larger part of its bull market rally has yet to occur.
Bitcoin post-halving performance. Source: X / André Dragosch
Related: Bitcoin enters ‘technical bear market’ as BTC price drops 20% from all-time high
Bitcoin analyst Tuur Demeester also reminded the public that beyond the cryptocurrency’s day-to-day price action, institutional adoption continues to soar, a fact reinforced by rising BTC balances among publicly listed companies.
Publicly listed companies Bitcoin holdings. Source: X / Tuur Demeester
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