Bitcoin experiences extreme volatility, with price action over a single day effectively covering several daily average true range (ATR) moves. The sharp swings underscore panic-driven trading conditions as liquidity thins and selling accelerates across the crypto market.
Bitcoin’s daily relative strength index (RSI) falls to around 15, a level rarely seen in its trading history. Such readings last occur during the March 2020 “corona dump,” highlighting the severity of the current momentum collapse and deeply oversold conditions.
At roughly $62,500, Bitcoin approaches drawdowns comparable to November 2022, when the collapse of the FTX exchange triggered a major market breakdown. The move signals one of the most intense stress episodes for crypto markets since that period.
