Share this article
Bitcoin Stalls Near Resistance; Support Around $54K
BTC stalled just shy of $60K resistance during Asia hours. Support is around $54K.
Updated Mar 6, 2023, 3:31 p.m. Published Mar 31, 2021, 11:22 a.m.
Make us preferred on Google
Bitcoin (BTC) approached resistance just shy of the $60,000 level during Asia hours. The cryptocurrency continues to consolidate with buyers showing limited strength from support levels.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Support is around $54,000 on the four-hour chart, which is roughly the midpoint of the month-long consolidation.
- The four-hour relative strength index (RSI) is now overbought, which could encourage some profit-taking towards lower support levels.
- The previous RSI overbought signal on March 13 preceded a roughly 13% drop in BTC from its all-time high around $61,000.
- BTC’s uptrend remains intact on the daily chart with support from oversold bounce at $50,000.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
U.S. listed bitcoin, ether ETFs bleed nearly $1 billion in a day
U.S.-listed spot bitcoin and ether ETFs saw one of their worst combined outflow days of 2026 as falling prices, rising volatility and macro uncertainty pushed investors to cut exposure.
What to know:
- U.S.-listed spot bitcoin and ether ETFs saw nearly $1 billion in outflows in a single session, as crypto prices tumbled and risk appetite faded.
- Bitcoin dropped below $85,000 and briefly neared $81,000, while ether fell more than 7%, prompting heavy redemptions from major ETFs run by BlackRock, Fidelity and Grayscale.
- Analysts say the synchronized ETF selling reflects institutions cutting overall crypto exposure amid rising volatility, hawkish Federal Reserve expectations and forced unwinding of leveraged positions, though some see the move as a leverage shakeout rather than the start of a bear market.
