Just noticed Bitcoin's 14-day RSI index hit below 30 again recently - only the third time ever. That's a pretty rare signal. RSI index readings that low usually show oversold conditions, meaning the selling might've gotten ahead of itself.

What's interesting is looking back at when this happened before. Back in 2015 around $200 and again in 2018 near $3,500, both times the market didn't immediately moon. Instead, it basically sideways ground for months before making real moves. 2015 took like 8 months to consolidate, 2018 was roughly 3 months. So the pattern suggests we might be looking at a slower accumulation phase rather than a quick bounce.

BTC's at $73.46K now, down from peaks earlier this year. If history repeats, the RSI index signal could mean we're settling in around current levels for a bit before the next leg up. The realized loss data is improving too - down to $400M daily from $2B peaks - which suggests forced selling is easing. Might just be a long grind sideways for a while.