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Bitcoin Oversold at Support, Resistance at $47K
Bitcoin is the most oversold in two months as buyers defend $40K support.
Updated May 11, 2023, 4:33 p.m. Published Sep 22, 2021, 11:17 a.m.
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Bitcoin is holding support at above $40,000, which could stabilize the pullback and encourage short-term buyers to return. But upside appears to be limited, given strong resistance at around $47,000-$50,000.
The cryptocurrency was trading at about $42,000 at press time and is down 2% over the past 24 hours.
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- The relative strength index (RSI) on the daily chart is the most oversold since July 20, which preceded a nearly 60% short-squeeze rally from the $30,000 support level.
- On the weekly chart, however, the RSI is neutral, suggesting prices could consolidate for a few more days.
- For now, BTC found support at its 100-day moving average of around $40,000. If broken, lower support is seen at around $37,500, which is the middle of a four-month price range.
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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.
Lebih untuk Anda
Silver nears $1 billion in volume on Hyperliquid as bitcoin remains frozen: Asia Morning Briefing
Silver perps have more volume on Hyperliquid than SOL or XRP.
Yang perlu diketahui:
- Silver futures on the Hyperliquid crypto derivatives exchange have surged to become one of its most active markets, ranking just behind bitcoin and ether in trading volume.
- The SILVER-USDC contract’s high volume, sizable open interest and slightly negative funding suggest traders are using crypto infrastructure for volatility and hedging in macro commodities rather than for directional crypto bets.
- Bitcoin is holding near $88,000 in a "defensive equilibrium" with cooling ETF inflows, uneven derivatives positioning and rising demand for downside protection, while ether lags and capital rotates toward hard assets like gold and silver.
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