Bitcoin experienced a moderate 2% price decline, settling near $115,500, with its Relative Strength Index (RSI) cooling to 66. This technical indicator points to stable market conditions without excessive overheating.
Though a breakdown from a short-term descending triangle pattern initially raised concerns, deeper analysis reveals underlying resilience in Bitcoin’s trajectory. On-chain metrics indicate a market environment characterized by disciplined accumulation rather than speculative excess, reinforcing confidence in the asset’s long-term bullish trend.
Meanwhile, Ethereum demonstrated significant strength with a price surge beyond the $3,700 mark. In regulatory developments, Nigeria’s Securities and Exchange Commission is considering market access for regulated stablecoin firms under new frameworks.