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Bitcoin Holds Support Above $60K, Pushes Back Toward All-Time High
Upside momentum is improving with seasonal strength in the fourth quarter.
Updated May 11, 2023, 4:29 p.m. Published Oct 29, 2021, 5:41 p.m.
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Bitcoin is breaking above a short-term downtrend, which could support further upside toward the $65,000 resistance level. The all-time high around $66,900 is also within reach, although buyers struggled to sustain that level last week.
BTC has whipsawed over the past few days, which created choppy trading conditions. This is typical during a consolidation phase, especially after a near-50% price rally over the past month.
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As of press time the largest cryptocurrency by market capitalization was changing hands around $62,500, up 2.4% over the past 24 hours.
The relative strength index (RSI) on the daily chart is rising from neutral levels, which means the pullback in BTC’s price is starting to stabilize. However, the weekly RSI is approaching overbought levels, which typically precedes a pullback in price.
Overall, upside momentum is improving with seasonal strength in the fourth quarter. A confirmed breakout (two consecutive daily closes) above the all-time high would yield a measured move projection toward $86,000. On the other hand, an immediate price pullback could be limited around the $53,000 support level.
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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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