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Bitcoin Rangebound With Support Near $57,900
BTC continues to consolidate, although selling pressure remains limited to rising support levels on intraday charts.
Updated Mar 6, 2023, 3:30 p.m. Published Apr 6, 2021, 11:26 a.m.
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Bitcoin (BTC) traded lower during Asia hours as buyers took profit near the $59,000 resistance zone. But selling pressure was limited near $57,900 support. Momentum signals are neutral over the short-term as BTC continues to consolidate.
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- The relative strength index (RSI) on the hourly chart signaled overbought conditions yesterday. This preceded a near 3% sell-off during Asia hours.
- Buyers continue to defend rising support levels from the April 3 price low around $56,500.
- For now, BTC continues to trade above its 50-period volume weighted moving average on the hourly chart, which helps to define support and resistance levels during intraday price swings.
- BTC has retraced roughly half of its near 6% sell-off from April 1, although price action has been rangebound over the past month.
- “A consolidation phase is underway as overbought conditions are absorbed,” wrote Katie Stockton, managing partner of Fairlead Strategies. “A breach of the 50-day moving average near $54,000 would be a reason to manage risk of a pullback given the first major support is uncomfortably far below near $42,000.”
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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.
Ano ang dapat malaman:
- 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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Bitcoin to silver ratio nears levels last seen during the FTX capitulation
Volatility, historical timing, and relative value signals raise questions around a potential blow off top for silver.
Ano ang dapat malaman:
- Historical silver tops have consistently clustered in the first half of the year.
- The bitcoin to silver ratio has declined toward levels last observed near bitcoin’s 2022 cycle low.
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