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Bitcoin One-Month RSI Hits Most Oversold Reading Ever Recorded in Asset's History

Lark Davis · Bitcoin ETF Flows Just Flipped [Get Ready] · July 3, 2026

Lark Davis

Bitcoin ETF Flows Just Flipped [Get Ready]

"1-month RSI on Bitcoin, the most oversold ever, ever, ever. The two closest readings before this, $180 in 2015, $15K in 2022. Not far off at the bottom of the 2018 bear market either."

Bitcoin's one-month RSI indicator has reached its most oversold level in the cryptocurrency's entire history, surpassing even the extreme readings seen at $180 in 2015 and $15,000 in 2022, both of which marked major market bottoms. This technical indicator adds to mounting evidence including whale accumulation, ETF inflows reversing, and weekly RSI bullish divergence that Bitcoin may be approaching a significant bottom. The confluence of multiple oversold indicators occurring simultaneously is historically unprecedented.

About this episode

Cryptocurrency analyst Lark Davis examines mounting evidence that Bitcoin may be forming a major market bottom after historic June outflows from ETFs. The episode focuses on Bitcoin ETFs recording their first significant inflow of $221 million after weeks of bleeding, while Ethereum, Solana, and XRP ETFs also saw positive flows. Most dramatically, Bitcoin whales accumulated a record 270,000 coins during the recent dip below $60,000, surpassing the 150,000 coins bought at the COVID bottom and 180,000 at the FTX crash, marking the largest whale accumulation event in Bitcoin's history. Davis presents multiple technical indicators suggesting extreme oversold conditions, including Bitcoin's one-month RSI reaching its most oversold reading ever recorded, surpassing even the lows of $180 in 2015 and $15,000 in 2022. Other signals include weekly RSI bullish divergence, the 200-week moving average support, and the Insilico Lilletic indicator flashing its green signal for the first time since the exact FTX crash bottom in November 2022. The episode also covers traditional market movements, including Michael Burry's new short position on Micron Technology and the memory sector experiencing significant corrections with Micron and SanDisk both dropping 17-18%. Davis discusses the Korean KOSPI index dumping 7.9% and approaching bear market territory, while noting capital rotation may be shifting back into crypto. He reviews active trading positions on Bitcoin, Jupiter, and Solana, and examines altcoin opportunities including Polygon flipping Base for stablecoin swap volume despite its depressed price. Davis emphasizes the risk-reward setup favors accumulation despite consensus predictions for further downside to $40,000 in October.

Key takeaways

Bitcoin whales accumulated a record 270,000 coins below $60,000, the largest institutional buying event ever recorded and nearly double previous accumulation at major bottoms.
Bitcoin's one-month RSI indicator reached its most oversold level in history, exceeding readings from the $180 bottom in 2015 and $15,000 bottom in 2022.
Bitcoin ETFs recorded $221 million in inflows marking the first significant positive flow in weeks after historic June outflows reversed capital trends.
The Insilico Lilletic indicator flashed its green signal for the first time since correctly identifying the exact FTX crash bottom in November 2022.
Michael Burry disclosed a new short position on Micron Technology after successfully shorting Palantir, as memory stocks Micron and SanDisk both dropped 17-18%.
The Korean KOSPI index dumped 7.9% and sits just 2% from bear market territory driven by Samsung and SK Hynix corrections in the memory sector.
Polygon flipped Base to become number two in stablecoin swap volume with $1.23 billion in June despite its price trading near 2020 lows around 3 cents.