Bitcoin (BTC) rebounded from a one-week low on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China.
BTC/USD dropped to a low of $29,154.85 earlier in today’s session, before climbing to a peak of $29,944.78 as the day matured.
The low sent bitcoin to its lowest point since April 10, which is when price was last below $29,000.
Looking at the chart, the rebound has come as the 14-day relative strength index (RSI) bounced from a floor of 59.00.
Currently, price strength is tracking at the 61.91 mark, with the next visible ceiling at the 65.00 level.
