Emre Yumlu 
Bitcoin may be entering a stabilization phase after several weeks of intense sell pressure. Market analysts suggest that the current technical landscape and investor positioning could pave the way for a relief rally toward the $100,000–$110,000 range.
RSI Approaches Oversold Territory: A Potential Turning Point?
According to analyst Mister Crypto, Bitcoin’s short-term structure has begun to firm up. Following what he describes as capitulation-like selling across the market, larger investors have reportedly started to open new long positions. This behavior often appears near market bottoms and has historically preceded short-term reversals.
The weekly Relative Strength Index (RSI) nearing the 30 level also reinforces this outlook. In previous cycles, interactions with this zone coincided with periods when Bitcoin was forming significant bottoms. Although this does not necessarily signal the start of a new long-term bullish phase, the analyst argues that it often marks the setup for a short-term upward move.
The $102,000 Level Reenters the Conversation
Another factor contributing to the bullish scenario is Bitcoin’s current distance from the 50-week moving average, which sits near $102,000. Historically, after falling below this indicator, Bitcoin has shown a tendency to retrace toward it. This pattern has led analysts to anticipate a potential rebound back into six-figure territory before broader market dynamics assert themselves.
Macro Outlook Supports Near-Term Optimism
Macro conditions may further strengthen the possibility of a short-term recovery. Expectations surrounding an eventual end to quantitative tightening, paired with speculation about another potential rate cut, are viewed as positive catalysts for risk assets. Looser financial conditions typically support demand for assets like Bitcoin.
Still, caution remains for the long term. The analyst emphasizes that the broader market environment continues to exhibit bearish characteristics, meaning any upcoming rally could be vulnerable to renewed weakness later on.
Sentiment Slowly Improves After Extreme Fear
The Crypto Fear & Greed Index recently climbed from an 18-day stretch of “Extreme Fear” to a reading of 28, signaling a modest improvement in market sentiment.
Bitwise Europe research head André Dragosch adds another layer to this perspective, arguing that Bitcoin’s current price does not yet reflect improving macro expectations. He likens the present risk-reward setup to the asymmetric opportunity seen during the COVID-era crash, suggesting that the market may be overly pricing in a pessimistic global outlook and could be primed for an upside surprise.
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