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Bitcoin Rebounds Above $19K
The largest cryptocurrency in market value was trading at $19,350, although analysts remain skeptical of a longer-lasting rally.
By Jocelyn Yang
Updated May 11, 2023, 3:46 p.m. Published Sep 7, 2022, 10:57 p.m.
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Bitcoin (BTC) rebounded above $19,000 support in Wednesday trading.
BTC was recently at $19,400, over a nearly 2% increase. The largest cryptocurrency by market capitalization dropped to $18,558 the previous day, its lowest point in two months.
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Yet, analysts remained skeptical of a longer-lasting rally.
“In general, this macro environment is hostile to all risk assets, including bitcoin … which is (driven by) the Federal Reserve’s raising rates and Europe and U.S. ESG (environmental, social and corporate governance) energy policies combined with post [COVID-19] growth and the Russia-Ukraine war,” Alexandre Lores, director of blockchain markets research at Quantum Economics wrote CoinDesk in a Telegram message.
Meanwhile, equities markets closed higher Wednesday as investors regained some appetite for riskier assets, at least temporarily The tech-focused Nasdaq and S&P 500, which has a tech heavy component, each rose about 2%. Bitcoin has spent much of the year tracking tech stocks.
Craig Erlam, senior market analyst for Oanda, was wary of predicting a continued price increase. “The question now is whether we could see another spiral, as we so often have in the past, in the event that bitcoin breaks the summer lows around $17,500 to trade at late 2020 levels,” Erlam wrote in an email.
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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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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.
What to know:
- 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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