 Bitcoin rebounds 7% from low as BTC price chart prints rare RSI signal 
2025-02-03
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Bitcoin BTCUSD sought a rebound on Feb. 3 as the Wall Street open brought fresh BTC price volatility.
BTC price surges to fill new CME futures gap
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD climbing past $97,000.
The pair gained as much as 6.7% versus its local lows of $91,530 seen just after the weekly open.
This came as markets reacted to news that the US had placed tariffs on Canada and Mexico, with President Donald Trump maintaining plans to expand them to the EU.
Altcoins, however, bore the worst of the risk-asset sell-off, with many of the top twenty cryptocurrencies by market cap shedding 20% or more.
“I think for now as long as the range lows and yearly open BTC continues to look good compared to the rest of the market,” popular trader Johnny thus wrote on X in his latest post.

Popular trader and analyst Rekt Capital noted that due to the BTC price downside, a new “gap” in CME Group’s Bitcoin futures market had opened above $98,000.
As Cointelegraph reported, these “gaps” tend to act as a short-term price magnet once the market is open again, often being “filled” within days or even hours.
“Volatile retest is in progress,” he continued while examining the monthly BTCUSD chart.

Bitcoin’s relief bounce was not mimicked by US stock markets, with the S&P 500 and Nasdaq Composite Index down 1.75% and 2.25%, respectively, at the time of writing.
“Acting as a risk proxy before U.S. markets opened, crypto saw nearly $2 billion in liquidations, with ETH hit harder than BTC,” trading firm QCP Capital explained in a bulletin to Telegram channel subscribers.
Bitcoin RSI copies classic local bottom move
A glimmer of hope meanwhile came from Relative Strength Index behavior on 4-hour timeframes.
4-hour RSI on BTCUSD dipped below the 30 “oversold” level on the day, coinciding with the local lows before a sustained bounce.
As noted by Caleb Franzen, creator of analytics resource Cubic Analytics, 4-hour RSI has only seen a handful of dips in the past six months.
“For the 5th time since August 2024, Bitcoin's 4-hour RSI is becoming oversold,” he reported on X. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.