Bitcoin Sends Rare Buy Signal as Analyst Warns Against Panic

TL;DR

• Bitcoin analyst Vetle Lunde identifies a potential buying opportunity as BTC returns to its 200-week moving average and its daily RSI falls to 25.
• Bitcoin trades at $69,020, down 3.33% over the last 24 hours, after briefly falling to $67,770.
• ETF outflows and declining leveraged exposure suggest speculative positions are being reduced, although analysts remain divided over the market outlook.
  

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Bitcoin is showing several technical conditions that have historically attracted long-term buyers, even as its latest correction pushes prices below $70,000. Analyst Vetle Lunde believes the current market weakness could offer an opportunity for investors rather than a reason to panic.

At the time of writing, BTC trades at $69,020, representing a 3.33% decline over the past 24 hours. The cryptocurrency recently touched $67,770, its lowest level in approximately 12 weeks, extending a correction that has erased more than 21% from its late September highs.

This is a great place to buy BTC.

200w MA tagged
Daily RSI 25
5th-largest ETF outflow wave on record
2x leveraged ETF exposure tagging 2.5-year lows from June 5, 2026.

Do not press the red panic button.

— Vetle Lunde (@VetleLunde) November 13, 2026

Bitcoin Buy Signal Emerges As Technical Indicators Turn Oversold

Lunde highlighted several indicators supporting his bullish assessment. One of the most relevant is Bitcoin’s return to its 200-week moving average, a long-term technical reference frequently monitored by traders when evaluating major market cycles.

The analyst also pointed to Bitcoin’s daily Relative Strength Index (RSI), which has dropped to 25. Since readings below 30 generally indicate oversold conditions, this suggests that selling pressure has intensified considerably.

However, an oversold RSI does not guarantee an immediate recovery. Prices can remain under pressure for extended periods, particularly when macroeconomic conditions and investor sentiment remain unfavorable.

Another factor supporting Lunde’s view involves the scale of recent ETF withdrawals. Bitcoin has experienced its fifth-largest wave of exchange-traded fund outflows on record, while exposure to leveraged products has declined substantially.

According to Lunde, exposure to 2x leveraged Bitcoin ETFs has reached its lowest level in approximately 2.5 years. He interprets this reduction as evidence that speculative positions have been cleared from the market.

His message to investors was straightforward. Rather than reacting emotionally to falling prices, market participants should evaluate the broader technical picture.

Analysts Debate Whether Bitcoin Is Approaching A Market Bottom

Other industry figures have also discussed Bitcoin’s position following the latest correction. Zach Pandl, head of research at Grayscale, argued that Bitcoin’s current fundamentals differ from those seen earlier in the year.

He pointed particularly to the financial position of Strategy, led by Michael Saylor, which remains the largest publicly traded corporate holder of Bitcoin. Its balance sheet and continued commitment to BTC represent important factors when assessing institutional exposure to the asset.