Bitcoin is showing signs of bottoming out after sliding for nine straight weeks for the first time in its history, data has shown. The Relative Strength Index (RSI) readings of the coin have fallen to nearly 30, suggesting signs of bottoming out.Bitcoin has added 5.6% in the last day to rise above $30,000 on Monday.
Meanwhile the Bitcoin Lightning Network capacity attained an all-time high of 3915.776 BTC, data showed. It displayed a commitment to the cause of improving BTC transaction speeds and reducing fees over the layer-2 protocol. The Bitcoin LN was first implemented into the Bitcoin main net in 2018 to address Bitcoin’s scalability issues.
On the other hand, The value of BNB, the world’s fifth largest coin by market capitalisation, surged by 4.7% in one day to reach $315.75 on Monday. In the last seven days, BNB’s value has in total dropped by 4.29%. Its trading volume currently stands at over $1.63 billion, reporting a 32.15% rise since yesterday.
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