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Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K
BTC continues to consolidate and is now at the bottom of a three-month range.
Updated Mar 6, 2023, 3:20 p.m. Published May 18, 2021, 11:38 a.m.
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Bitcoin (BTC) buyers continued to defend support around $42,000 on Monday. The sell-off that began last week appears to be weakening as the cryptocurrency registers oversold signals. However, upside appears limited towards $50,000-$53,000 resistance.
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The cryptocurrency was trading around $45,000 at the time of writing.
- The relative strength index (RSI) on the four-hour chart is now oversold similar to the last week in April, which preceded a price bounce.
- The RSI is also oversold on the daily chart and is neutral on the weekly chart, which could signal a brief price recovery as sellers capitulate.
- Initial resistance is around $50,000 and then at the 100-period moving average on the four-hour chart at $53,000.
- Bitcoin continues to consolidate and is now at the bottom of a three-month range. The broader uptrend remains intact, albeit vulnerable to sharp swings and frequent drawdowns.
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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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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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