Safe Havens Shine While Bitcoin Searches for Support

BTC/USD struggles to find its footing, RSI is headed for oversold

Gold and Silver are surging to new historic highs, leaving Bitcoin and the entire crypto market in the dust. It looks like the precious metals have stolen Bitcoin’s thunder because high-volatility moves were once the characteristic of crypto, while traditional assets were sluggish. Gold climbed more than $500 this week, which is about 10% gain, while Silver rose almost 20% during the same timeframe.

In the meantime, Bitcoin dropped more than 7%, on rising geopolitical risks between the U.S. and Iran. Also, the Fed did not signal any willingness to bring rates lower, at least not until June, which further diminished investors’ willingness to chase risky assets such as cryptocurrencies. Regarding the next cut, the FOMC Statement showed that the Fed will “assess incoming data, the evolving outlook, and the balance of risks”

At the time of writing, the first rate cut should come in June, with a 46% probability, according to the CME FedWatch tool; however, these odds are likely to change. And unless the crypto market benefits from other catalysts, just the prospect of a rate cut will not be enough to revitalize the bulls.

Chart Analysis – BTC/USD

Bitcoin is currently changing hands at $82,700 after reaching a low at $81,040. The downfall has accelerated after the break of a triangle pattern, and the sellers are still in control of price action. The RSI is moving lower, but it is not oversold on a Daily chart, which favors an extended move to the downside.

Bitcoin’s price action starts to resemble more and more the last time the RSI was oversold, in February 2025. After that oversold, the price ranged for a while, then printed a lower low and created bullish divergence before shooting to a new All-Time High (ATH).

If Bitcoin follows the same path, then we will probably see a break of the recent low ($80,537), which was reached during the RSI’s latest visit into oversold territory, on November 21, 2025. And while that wouldn’t be good news for Bitcoin bulls, at least there’s hope at the end of the tunnel: the last similar setup yielded a new ATH. Will history repeat itself?

But let’s not jump ahead of ourselves. As long as Bitcoin is trading below the $88K cluster zone, the bias is bearish, with the next support zone sitting around $77K. If the price gets there, the RSI will probably become oversold again, and maybe we will see bullish divergence, which would favor the bulls.