Bitcoin pulls back to $72k as RSI stays overbought
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- Bitcoin' RSI stays in overbought territory after a 15% price rally from $65,000 since March 8, and a pullback toward $72,000–$74,000 is expected to form support.
- Bitcoin futures open interest rose 2% to a three‑week high of 685.2 K BTC, while cumulative volume delta stayed positive, indicating a bullish long bias.
- SOL shows mixed signals with rising open interest, negative funding rates and near‑zero cumulative volume delta, contrasting with Bitcoin’s bullish futures.
- Bitcoin options on Deribit have puts trading at a greater premium than calls, indicating a more bearish stance on Bitcoin than on Ether.
- Altcoin season indicator on CoinMarketCap remains at 49/100, its highest point since the start of the year, even as many smaller tokens fell more than 5% after Monday’s rally.
- TRUMP memecoin lost more than 6% in the past 24 hours as traders took profits, and PEPE also slipped after leading the broader crypto market higher on Monday.
Why it matters: Traders holding long Bitcoin positions may face short‑term downside as the overbought RSI hints at a $72k pullback, while bullish futures open interest keeps the market poised for a potential rebound; meanwhile, altcoin investors see continued risk‑on appetite despite token‑specific profit‑taking.
