That's what a trader says. Traders totally ignore the fundamentals that create why there is value in the first place and what affects the value.
The definition of overbought is when the price is higher than the current utility(and therefore demand). That has nothing to do with trading.
BTC's utility crashed. Therefore the market crashed. If it didn't there wouldn't even be BCH. It crashed because the utility crashed, not because it was overbought.
