Share this article
Bitcoin Pulls Back From All-Time High, Support Between $63K-$65K
Intraday charts are showing initial signs of upside exhaustion.
Updated May 11, 2023, 4:26 p.m. Published Nov 10, 2021, 10:20 p.m.
Make us preferred on Google
Bitcoin spiked toward an all-time high around $68,950 after a stronger-than-expected U.S. inflation report on Wednesday. The cryptocurrency is now slightly lower, trading around $65,700 at press time, although buyers could hold support above $63,000-$65,000 into Asian trading hours.
Intraday charts are showing initial signs of upside exhaustion, which typically lead to a brief pullback in BTC’s price. For example, the relative strength index (RSI) on the four-hour chart continues to hover near short-term overbought levels.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Still, upside momentum signals are improving on the daily price chart for the first time since Oct. 1, which preceded a price rally from $44,000. This suggests that buyers could remain active on pullbacks.
Two consecutive daily closes above an all-time price high would yield further upside targets, initially toward $86,000.
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
Macro fears mask Ethereum’s momentum, SharpLink CEO says
SharpLink CEO Joseph Chalom argues that macro uncertainty is hiding a massive institutional shift toward Ethereum-based tokenization.
What to know:
The context: Former BlackRock Head of Digital Assets Strategy, and SharpLink CEO, Joseph Chalom says institutional giants are betting heavily on Ethereum to serve as the global infrastructure for asset tokenization, ignoring current price stagnation.
He outlines three key drivers for a projected 10x surge in Ethereum activity this year:
- BlackRock’s Larry Fink has signaled strong conviction that Ethereum will be the "toll road" for tokenized assets.
- Over 65% of all stablecoins and tokenized assets live on Ethereum, dwarfing Solana by a factor of ten.
- High-value projects prioritize Ethereum's decade-long record of security and liquidity over faster, cheaper alternatives.
Top Stories
