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Bitcoin Tops $11K for First Time in Almost 3 Weeks
Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.
Updated Sep 14, 2021, 10:06 a.m. Published Oct 9, 2020, 10:51 a.m.
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Bitcoin broke through $11,000 on Friday, reaching its highest price in almost three weeks.
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- The rise comes a day after payments company Square announced it had put 1% of its total assets into the largest cryptocurrency by market cap.
- Prices hit $11,023 at 11:05 UTC – the highest since Sept. 20, according to CoinDesk's Bitcoin Price Index.
- The rally to $11,000 marked an upside break from the past two weeks' range of about $10,500 and $10,800.
- The cryptocurrency remained fairly steady above $10,000 over the past two weeks, despite news of the KuCoin exchange hack, U.S. regulators bringing criminal and civil charges against BitMEX, and President Donald Trump's announcement he would end talks with Democratic lawmakers over a new fiscal stimulus package.
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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.
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.
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Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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