Bitcoin Slides 30% From October Peak as RSI Oversold Signal Fuels ‘Explosive Bounce’ Debate

Bitcoin has fallen from above $126,000 in early October to around $88,000, while analysts debate whether this marks a new bear market or a deep bull-cycle correction. One analyst argues BTC must regain roughly $101,840–$102,000 to revive its bull phase, while another points to an oversold RSI below 30 for about three weeks as a setup for a potential explosive rebound. At the same time, whale balances have dropped by over 160,000 BTC in a year and spot ETFs saw nearly $500 million in outflows, adding downside risk if support at $83,300 fails.