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Bitcoin Jumps Above $41K, Rising With Nasdaq, S&P
The largest cryptocurrency whipsaws around the $40,000 level as markets digest elevated U.S. inflation readings.
Updated May 11, 2023, 3:46 p.m. Published Apr 13, 2022, 4:50 p.m.
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Bitcoin (BTC), the largest cryptocurrency by market capitalization, surged past the key psychological price level of $40,000 on Wednesday as investors digested news that inflation hit a four-decade-high in March.
- Bitcoin was changing hands at below $40,000 earlier in the day, but at around 13:00 UTC (coordinated universal time), the price suddenly jumped above $41,000 in just an hour with high trading volume.
- Bitcoin's price is trying to find a support level after it dropped from $43,000 earlier this week.
- The move higher followed the stocks markets opening on a positive note, with the Nasdaq up 1.3% and the S&P 500 gaining 0.6%. Sentiment in the equity market is key as bitcoin's correlation with stocks remains at a high level.
- Some other popular cryptocurrencies jumped in tandem with bitcoin. Ether (ETH) gained 1.6%, and AVAX, the Avalanche blockchain's token, jumped 4%. Solana (SOL) was down 1.4% at press time.
- The consumer price index (CPI) for March rose 8.5% on rapidly increasing energy and food prices. While some economists argue that inflation probably peaked last month, the higher-than-expected number may strengthen the Federal Reserve's resolve to raise interest rates at its next meeting and shrink its balance sheet by as much as $95 billion a month.
- "Bitcoin is rallying as the bond market rethinks its aggressive Fed tightening bets," Edward Moya, an analyst at the foreign-exchange broker Oanda, said. "Bitcoin will continue to follow the lead set in equities, and right now optimism is growing that the U.S. consumer is still in good shape. Bitcoin seems like it could trade in a range from $38,000 to $48,000 as stocks might have limited upside this earnings season given the elevated geopolitical and inflation risks for corporate America."
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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.
Ce qu'il:
- 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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XRP drops 4% as traders watch whether $1.88 support holds
Price stabilizes near recent lows after a volatile pullback from above $2.
What to know:
- XRP slipped nearly 4% as bitcoin fell below $88,000, with price action driven more by market structure and positioning than by changes to Ripple’s fundamentals.
- Spot XRP ETFs saw about $40.6 million in weekly outflows, suggesting institutional profit-taking and rotation rather than a loss of confidence in the asset.
- XRP remains range-bound in a tight consolidation between support around $1.88 and resistance near $1.93–$1.95, with fading volume pointing to a larger move once the current stalemate resolves.
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