🔔 Cryptocurrency news: The price of Bitcoin (BTC) has been steadily declining over the past two weeks, which puts the flagship cryptocurrency in the undervalued zone.

BTC is down 3.2% in the last 24 hours and is trading at $62,300 at the time of writing. This is the first time in six weeks that the Bitcoin price has dropped below $63,000.

📉 BTC trading volume increased by 91% per day, exceeding $17 billion.

It is important to note that BTC ETFs in the US have recorded six straight days of outflows, adding to the FUD (fear, uncertainty and doubt) in the cryptocurrency market.

Data from Santiment shows that BTC's Relative Strength Index (RSI) currently stands at 35 after three weeks of declines. This indicates that Bitcoin is currently oversold, which could foreshadow a potential price increase.

📈 Despite the decline in RSI, a sharp increase in daily Bitcoin trading volume may indicate high price volatility.

We'd love to hear your thoughts on this in the comments below! 👇