TL;DR
- Bitcoin’s daily RSI surpassed the 85 level, a mark that historically only appeared near major bullish trends, according to analyst Sykodelic.
- CryptoQuant raised its Bull Score from 30 to 80 points; eight out of ten indicators are in bullish territory, but the firm requires a daily close above $83,000 to confirm the cycle.
- BTC open interest on Binance reached $9.54 billion, its highest level in three months, signaling a return of liquidity to the futures market.
The daily RSI of Bitcoin marked a technical milestone that, according to analyst Sykodelic, has never occurred during a bear market: it surpassed the 85 threshold after BTC reached $81,000 this week.
The analyst reviewed ten years of price history and concluded that every time that indicator crossed that level, it did so near the peak of a consolidated uptrend or at the beginning of one. “Not even when Bitcoin was worth $10 in 2011 was there a daily RSI reading of 85 or higher in a bear market,” he wrote. He acknowledged that the current pattern could become the first exception, though he ruled out that possibility.
This is not a bear market rally.
We can see here, very clearly, where I have marked on the chart, that over the last 10 years…
Every time the 1D RSI has pushed over 85, it has always been either:
1. The start of a very large uptrend
2. Close to the very top of that uptrend… https://t.co/sN59vFuynA pic.twitter.com/HQMtUHLomA— Sykodelic 🔪 (@Sykodelic_) August 27, 2026
Bitcoin Shows a Structure Reminiscent of November 2024
Sykodelic described the current price action as “vertical accumulation” and compared it to the pattern observed in November 2024, the last time Bitcoin’s daily RSI reached 85. That structure begins with an entry into overbought territory, followed by a rally that offers few entry opportunities. In turn, the price breaks through resistance levels without major pullbacks while the market waits for a correction that never comes.
Derivatives activity is central to this reading. According to Arab Chain, Bitcoin’s open interest on Binance reached $9.54 billion, its highest level in three months, indicating a return of activity and liquidity to the futures market. Analysts noted that an increase in open interest alongside rising prices can be interpreted as greater confidence in the bullish trend, although it also raises the risk of liquidations should the price reverse.
One Final Confirmation
CryptoQuant published a more cautious analysis. Its Bull Score rose from 30 to 80, with eight out of ten indicators in bullish territory and spot demand recording its fastest monthly increase since late December 2025. However, the firm set a condition to validate the bull cycle: Bitcoin must close the day above its 365-day moving average, located near $83,000.
BTC rejected that level after surpassing $81,000 and fell approximately $3,000 from that local high. Currently, BTC is trading near $79,000, posting a gain of nearly 12% over seven days.
