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Bitcoin’s ‘Overbought’ RSI Hints at BTC Price Dropping to Test $78K Bitcoin ($BTC) traders expect a short-term correction as a key $BTC price strength metric rises to its highest levels in almost fift

Bitcoin’s ‘Overbought’ RSI Hints at BTC Price Dropping to Test $78K
Bitcoin ($BTC) traders expect a short-term correction as a key $BTC price strength metric rises to its highest levels in almost fifteen weeks.
Key takeaways:
Bitcoin’s “overbought” RSI historically precedes significant corrections.
Bitcoin could see a short-term price drop if the price breaks below the $78,000 support.
Bitcoin metrics suggest $BTC price is “overheated”
Bitcoin’s 36% rally to $82,800 on Wednesday from its macro low of $60,000 has significantly impacted its daily RSI.
On the daily chart, the RSI rose to 70 on Wednesday from local lows of 39 in March.
“$BTC's daily RSI went overbought right as we tagged the 200-day EMA,” trader Jelle said in a Friday post on X, adding:



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Bitcoin’s ‘Overbought’ RSI Hints at BTC Price Drop

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HTX Community April Creation ContestBTC Shakes at $80K—Up or Down?MEGA: Real-Time Execution Layer for Ethereum Crypto News Today: Cryptocurrency Liquidations Hit $300M as Bitcoin Loses $80K Support Bi

Crypto News Today: Cryptocurrency Liquidations Hit $300M as Bitcoin Loses $80K Support

Bitcoin fell below $80,000 as crypto liquidations reached nearly $300 million. Traders reduced leverage across major assets. TON stood out as short positions faced heavy pressure.

Bitcoin dropped below $80,000 late Thursday after fresh US airstrikes in Iran rattled risk markets and pushed Brent crude briefly above $100. The move triggered heavy crypto futures liquidations, with nearly $300 million in leveraged bets wiped out over 24 hours. Long traders carried most of the losses as the market pulled back from recent gains.

The decline came as traders were already cautious. Strategy chairman Michael Saylor said the company could consider selling Bitcoin to cover dividend payments from STRC. That marked a shift from its earlier ‘never sell’ stance.

Meanwhile, Ether traded at $2,280 after losing 0.2% since midnight UTC and about 2% over 24 hours. Other altcoins also weakened, with Monero and Dash falling between 4% and 5%.

Bitcoin Drop Pressures Leveraged Traders

Bitcoin’s move below $80,000 did not erase its wider recovery from late March. The asset had climbed from around $65,000, keeping its broader rebound intact.

Still, traders continue to watch the $75,000 level closely. A break below that area would cancel the recent pattern of higher lows. It would also signal a return to the earlier trading range.

The latest futures data showed clear deleveraging after the overnight drop. Cumulative industry notional open interest fell more than 1.5% to $131.5 billion. At the same time, trading volume declined more than 12% to $191 billion.

This shift showed that traders reduced exposure after Bitcoin lost momentum. Many had entered the weekend positioned for further gains. Instead, the market weakness forced rapid exits.

A key question now is whether Bitcoin can hold

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President Donald Trump announced that Russia and Ukraine have agreed to a three-day ceasefire, set to run from May 9 through May 11. The pause in fighting coincides with Russia’s annual Victory Day celebrations, which commemorate the Soviet Union’s role in defeating Nazi Germany in World War Two.

The agreement calls for a complete suspension of military activities between the two nations. It also includes a prisoner exchange, with 1,000 captives being returned by each side.





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$ICP bulls must remember to take profitsSource: $ICP/USDT on TradingView
The former range near the $2 swing low has been breached, the AI sector is chugging along remarkably well, and the altcoin has rallied by 60% in a week. Now, while things are going well for the bulls, they shouldn’t be swept away by the euphoria.

The long-term trend remains bearish. The daily chart highlighted the bearish swing structure in place in 2026. The ongoing rally is only a relief rally, and it can extend to $4.21 or even as high as $4.82.

Traditional crypto wisdom maintains that bear market rallies can brainwash participants into thinking the bull market is here again, before pulling the rug out from under their feet.

$ICP traders will want to be savvy during this phase of the market and take it step by step. The range breakout is done, and key Fib levels are under siege. Holders can look to sell in the golden pocket overhead. A breakout past $4.82 is needed to signal a bullish swing structure break.

Final Summary
Combined with Bitcoin’s ascent above $80K, altcoins such as $ICP have ideal conditions to flourish.
Despite its strong showing recently, altcoin’s bulls should remember to take profits.

$ICP bulls must remember to take profits

Swiss central bank bitcoin reserve push fails over signature shortfallHTX Community April Creation ContestHTX Creation Challenge — Post and Win 1,500U 💥Everything Can Be Huobao Swiss campaigners will 

Swiss central bank bitcoin reserve push fails over signature shortfall



Swiss campaigners will drop a bid to get the Swiss National Bank (SNB) to hold bitcoin in its reserves after collecting only about half of the 100,000 signatures needed to trigger a national referendum.

The initiative sought to change Switzerland’s constitution so the SNB would hold bitcoin alongside gold and foreign-currency reserves. The group had 18 months to gather signatures and push for the country’s direct democracy to vote on the subject.

The Federal Chancellery listed the proposal as an amendment to the country’s Federal Constitution, requiring part of the SNB’s monetary reserves to be held in gold and bitcoin. The text did not specify an allocation.

The campaign had framed bitcoin as a neutral reserve asset and a hedge against exposure to dollar- and euro-denominated holdings. Supporters said those currencies make up roughly three-quarters of the SNB’s foreign-currency reserves, according to Reuters.



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HTX Community April Creation ContestBTC Shakes at $80K—Up or Down?Everything Can Be HuobaoThe XRP market has entered a phase of abnormal calm that may force traders to revisit charts from two years ag

The XRP market has entered a phase of abnormal calm that may force traders to revisit charts from two years ago. The current consolidation within a narrow corridor around $1.40 visually mirrors the famous 2022–2024 sideways phase, when the coin drifted without a clear trend for at least 900 days. Advertisement On the weekly chart by TradingView, the cyclical analogy is clearly visible. The previous accumulation cycle lasted 915 days (from May 2022 to November 2024), and after explosive growth at the turn of 2024 and 2025, the XRP price has "compressed" once again.XRP price action since 2022 on a 1W timeframe, Source: TradingViewIf history repeats itself with mathematical precision, investors may have to wait until August 2028 for the next volatility explosion. HOT Stories Largest Swiss Bank Loads Up on Strategy (MSTR) Ethereum (ETH) Could Hit $12K This Year, Lee Predicts At the moment, XRP is trapped within a range with lower support at $1.30 and resistance at $1.50. Volatility remains at multi-month lows, prompting the question whether this calm is a sign of accumulation or market apathy. Advertisement 3 catalysts that could end XRP's 'hibernation' earlyStill, three factors that were not present two years ago could interrupt the 900-day drift much earlier than 2028:Unlike in 2022, price is now supported by active inflows into spot XRP ETFs. This creates a "liquidity cushion" that prevents the price from falling sharply, but also limits aggressive speculative spikes.The expected vote on the CLARITY bill at the end of May could become the exact trigger that was missing during previous accumulation periods.The Bollinger Bands squeeze on the weekly timeframe has reached critical levels. Historically, such periods of "anti-volatility" end with a powerful impulse rather than a multi-year drift. You Might Also Like Fri, 05/08/2026 - 14:43 Big Reset for XRP: Meet New XRP Ledger 

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