Share this article
Bitcoin Choppy Around $30K, Support at $25K-$27K
Price bounces have been short-lived, indicating a loss of buying strength.
Updated May 11, 2023, 6:04 p.m. Published Jun 7, 2022, 5:21 p.m.
Make us preferred on Google
Bitcoin (BTC) remains in a choppy trading range as short-term indicators are neutral. The cryptocurrency could find support at $25,000 and $27,000 as its price continues to stabilize from last month's sell-off.
BTC was trading at about $29,800 at press time and is down by 4% over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The relative strength index (RSI) on the daily chart returned to below the 50 neutral mark, indicating weak momentum behind the latest price bounces above $30,000. On the weekly chart, the RSI is the most oversold since March 2020, which preceded a rise in crypto prices.
Still, indicators can remain oversold for several weeks, especially within a price downtrend. That means upside could be limited for BTC, with immediate resistance at the 50-day moving average of $33,371.
More For You
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.
What to know:
- 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.
More For You
Strategy purchased $264 million in bitcoin last week, a slowdown from recent acquisition pace
The company’s stack now stands at 712,647 BTC, worth about $62 billion at the current price of $87,500.
What to know:
- Strategy (MSTR) continued its weekly bitcoin acquisitions, purchasing $264.1 million worth of BTC last week.
- The company’s bitcoin stack now stands at 712,647 coins worth just over $62 billion.
- Last week’s acquisition was primarily funded through the sale of common stock.
Top Stories
