Share this article
Bitcoin Remains Rangebound; Faces Resistance at $40K
BTC is trading in a range with limited upside after a volatile month.
Updated Mar 6, 2023, 2:47 p.m. Published Jun 2, 2021, 11:36 a.m.
Make us preferred on Google
Bitcoin (BTC) has traded sideways over the past few days, with support around $33,000 and resistance at $40,000. The world's first cryptocurrency was trading near $37,000 at the time of writing and was down about 5% over the past seven days.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A short-term breakout from the sideways range would yield an upside target around $45,000, although resistance remains strong. For now, $40,000 is a key hurdle which could limit buying strength over the near-term.
- Bitcoin is approaching resistance near the 100-period moving average ($38,337 as of press time) on the hourly chart. The corrective phase that began in May remains in effect, although selling pressure has declined over the past week.
- The relative strength index (RSI) is mostly neutral on a short to intermediate term basis which suggests price is starting to stabilize into June after a volatile month.
- The broader uptrend is weakening as bitcoin remains below the 100-day and 200-day moving averages. This suggests limited upside over the short-term.
More For You
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.
More For You
Here are the winners and losers (so far) in bitcoin mining from Nvidia's $2B CoreWeave investment
Nvidia’s deepened partnership with CoreWeave raises pressure on bitcoin miners pivoting to AI infrastructure.
What to know:
- Shares of most bitcoin miners who have shifted business plans to AI infrastructure fell after Nvidia announced a fresh $2 billion investment in CoreWeave.
- One analyst says Nvidia’s deepening partnership with CoreWeave could divert GPU access and funding away from independent miners trying to pivot into AI and high-performance computing.
- Core Scientific, which CoreWeave attempted, but failed, to acquire in 2025, is the only miner posting gains on Monday.
Top Stories
