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Bitcoin Stalls at Support, Resistance at $50K
Upside momentum is slowing into the weekend, which can limit price rises.
Updated May 11, 2023, 5:20 p.m. Published Sep 10, 2021, 11:33 a.m.
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Bitcoin is roughly flat over the past 24 hours, settling near the $46,000 support level. Upside appears to be limited towards $50,000 resistance as momentum slows into the weekend.
The sell-off is stabilizing, leaving BTC down about 7% over the past week. Buyers will need to defend support above the $42,000 breakout level to resume the relief rally from July.
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- The relative strength index (RSI) on the daily chart continues to decline from overbought levels over the past month.
- The current neutral reading on the RSI is similar to June and July, which occurred during consolidation phase.
- Resistance remains strong between $50,000 and $55,000, as the nearly 70% price rally from $30,000 in July appears to be exhausted.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Anthony Scaramucci-linked AVAX One tumbles 32% on uncertainty around shareholder sales
The firm, which holds AVAX tokens and related Avalanche ecosystem assets, registered roughly 74 million shares held by insiders.
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- Shares of AVAX One, a digital asset treasury firm advised by Anthony Scaramucci, fell more than 30% after the company filed to register up to nearly 74 million shares held by insiders as available for sale.
- The registration, which enables early investors to resell previously restricted stock, stoked fears of dilution.
- AVAX One's move reflects broader pressures on crypto-native public firms whose stocks trade at steep discounts to the value of their token holdings, though it remains unclear if or when the registered shares will be sold.
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