Share this article
Bitcoin Returns Above $58K as Momentum Improves
Buyers will need to clear $60K resistance to maintain an uptrend.
Updated May 11, 2023, 4:27 p.m. Published Nov 29, 2021, 8:10 p.m.
Bitcoin is holding support above its 100-day moving average, currently around $54,200, as last week’s sell-off stabilizes.
The cryptocurrency was trading around $58,000 at press time and could face initial resistance at $60,000-$63,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index (RSI) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally.
For now, buyers will need to clear resistance in order to yield further upside targets. Longer-term indicators have shifted neutral as buyers failed to sustain an all-time high near $69,000 over the past month.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Proposed ‘AfterDark’ Bitcoin ETF Would Skip U.S. Trading Hours
The fund would hold bitcoin only overnight, betting on data showing bitcon gains mostly occur outside regular market hours.
What to know:
- Nicholas Financial has filed with the SEC to launch a bitcoin ETF that holds BTC only during overnight hours.
- The “AfterDark” ETF buys bitcoin after U.S. stocks close for the day and then sells bitcoin and shifts into Treasuries during the American session.
- Data shows bitcoin tending to perform better when traditional U.S. markets are closed.
Top Stories
