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Bitcoin News Roundup for May 21, 2020
Spoooky! BTC saw a ghost Wednesday and scared the markets. It's CoinDesk's Markets Daily podcast.
By John Biggs
Updated Dec 11, 2022, 7:30 p.m. Published May 21, 2020, 4:00 p.m.
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Spoooky! BTC saw a ghost Wednesday and scared the markets. It's CoinDesk's Markets Daily podcast.
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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.
Today's stories:
50 BTC Just Moved for First Time Since 2009 – But It Doesn't Look Like Satoshi
Bitcoin Drops Over 3% Despite Golden Cross and Bank Calls for More US Stimulus
After Lawsuits and Delays, Overstock Hands Shareholders Digital Dividend
Genesis Trading Buys Crypto Custodian Vo1t in Bid to Become Prime Broker
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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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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Key bitcoin price levels to watch as downward pressure builds
As bitcoin remains in a downtrend, several technical and onchain levels stand out as critical areas of support.
What to know:
- The 100-week moving average at $87,145 remains the main line of defense.
- Below this, the cost basis of U.S. spot bitcoin ETF buyers at $84,099 has provided support during recent consolidation.
- A sustained break below $80,000 would likely open the door to a revisit of the April 2025 low near $76,000.
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