In the dimly lit chambers of the cryptocurrency realm, where fortunes rise and fall with the whims of the market, Nic Puckrin, the venerable founder of Coin Bureau, has cast his gaze upon the beleaguered Bitcoin. With a sigh that could rival the weight of a thousand ledger entries, he declares, “Never has Bitcoin been so oversold.” One might imagine him stroking an imaginary beard, pondering the absurdity of it all, as he presents his analytics-a chart from Bitstamp, no less-revealing an RSI of 25.6. A number so low, it makes the 2022 collapse look like a mere hiccup in the grand ballet of financial folly.
Bitcoin Breaks Below Critical $63,000 Support
The Great Oversold Saga
Puckrin, with the air of a man who has seen too many bubbles burst, shares that this RSI is not just low-it is historically low. Lower than the depths reached after the 3AC and Luna debacles, which sent the market into a tailspin of despair. “A bottom could be coming soon,” he muses, though one wonders if he is speaking of the market or his own patience. The chart, a silent witness to the drama, stands as a testament to the absurdity of it all.
First time in Bitcoin’s history.
According to the weekly RSI, this is the most oversold it has ever been.
It currently sits at 25.6 which is lower than the previous record low level back after 3AC / Luna crash.
More downside is likely, but a bottom could be coming soon.
– Nic (@nicrypto) February 24, 2026
Bitcoin’s Halcyon Days, Now Half-Gone
Ah, Bitcoin, once the darling of the digital age, now languishing at a mere 50% of its former glory. From the lofty heights of $126,000 in October, it has tumbled to $63,285, a fall so precipitous it would make even the most stoic investor weep into their ledger. CryptoQuant, ever the bearer of sobering news, points to the Coinbase Premium Index as the harbinger of this doom. For 40 days and 40 nights, it has remained negative, a sign that even the institutions are hesitating, their hands trembling over the “sell” button.
Coinbase Premium SMA-30 Rejection Above Zero Emerges as Potential Trigger for Bitcoin Slide
“This lack of sustained recovery in the premium, despite the temporary uptick, is considered a potential trigger for the recent downward price action.” – By @nino_trade
– CryptoQuant.com (@cryptoquant_com) February 24, 2026
And so, as the market teeters on the edge of another potential downfall, one cannot help but chuckle at the irony of it all. Bitcoin, the digital gold, now tarnished by the very volatility it was meant to escape. Perhaps, in the end, the only thing certain is uncertainty-and the occasional chuckle at our collective folly.
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2026-02-24 19:02