- Bitcoin’s RSI suggests potential bullish momentum.
- Institutional investments are increasing.
- Trading volume shows significant growth.
Bitcoin’s RSI at 62 reflects a strong market position, contrasting the average weekly RSI of ~43, indicating continued bullish trends rather than a cooldown.
Bitcoin’s market indicators exhibit strength, with RSI at 62 on daily charts. Institutional interest is increasing, as futures open interest on CME Group rose by 12%, indicating confidence in cryptocurrency investments.
Technical indicators display a bullish outlook. The 50-day moving average is at $65,800, providing support amid price surges. Trading volume grew dramatically, with Coinbase spot volume reaching $1.2 billion on May 17, 2025.
Rising institutional involvement is evident as the futures market on CME Group surged to $8.5 billion. This reflects the cryptocurrency’s increasing attractiveness to institutional investors despite short-term market fluctuations.
Active addresses climbed by 5.2% to 620,000, highlighting strong user engagement. Decreased exchange reserves support the notion of a robust market, indicating reduced selling pressure.
PlanB predicts future RSI levels could exceed 80, aligning with historical bull markets. Historical trends suggest potential for substantial price appreciation, similar to those in 2017 and 2013.
Bitcoin’s RSI was at 66, around the average RSI level of 65, predicting it would stay above this range for one or more years, potentially reaching 80+ RSI months again, similar to previous bull markets. – PlanB, Analyst, Cryptocurrency Expert
