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Bitcoin Breaks Above $40K
After a weekend of choppy trade, the popular crypto began a sizable move higher as the U.S. returned to work on Monday morning.
Updated May 11, 2023, 3:39 p.m. Published Feb 28, 2022, 3:17 p.m.
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Bitcoin, the world’s largest cryptocurrency by market capitalization, regained the key psychological threshold of $40,000 even as the situation with respect to Ukraine continued to deteriorate.
"The move to isolate and cripple Russia's economy seems to be reacted positively by the market at the moment," said Lennard Neo, analyst at Stack Funds.
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Bitcoin fell to as low as $37,000 over the weekend as Russian President Putin put his country's nuclear forces on alert, and the West amped up what it hopes will be crippling financial sanctions. The crypto, however, began moving higher earlier this morning, including a jump from $38,000 to $39,500 over the course of a few minutes just before U.S. stocks opened their session.
At press time, BTC was trading at around $41,105.
Laurent Kssis, a crypto exchange-traded fund (ETF) expert and director of CEC Capital, said technical and proprietary signals are strong to hold the $41,000 position for the cryptocurrency. Kssis added that "overnight we should see some appreciation even narrowly." He also noted that the average transaction value in dollars for bitcoin has rallied 10% in the last 2 hours, which "means investors are taking on larger bets in bitcoin which has helped confidence building."
Possibly helping sentiment this morning is unconfirmed chatter that Russia is exploring a digital "one world, one currency" for trade.
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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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Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
알아야 할 것:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
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