Bitcoin [BTC] bears show signs of weakness as this metric slows down

A few days ago, it became apparent that Bitcoin [BTC] was in a price-RSI divergence pattern. This was an indication of relative trend weakness for the bears, and one that would give way to a retracement. Fast forward to the present, and that retracement is here, but the bears, too, are now showing some weakness. […]

was in a price-RSI divergence pattern. This was an indication of relative trend weakness for the bears, and one that would give way to a retracement. Fast forward to the present, and that retracement is here, but the bears, too, are now showing some weakness.Bitcoin’s $23,909 press time price represented a 5.4% drop from its recent high, which was also its current 2023 high. This might not be much in the grand scheme of retracements, but it is an indication of low sell pressure.

alerts keeping track of daily on-chain flows reveals that Bitcoin’s net flows for 24 February added up to -$29.5 million.

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