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Bitcoin Stabilizes in Tight Trading Range, Resistance at $33K
BTC continues to trade around a midpoint of $30,000 as indicators remain neutral.
Updated May 11, 2023, 6:06 p.m. Published Jun 2, 2022, 5:47 p.m.
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Bitcoin (BTC) held initial support near $29,300, which was where an upswing in price originated over the past weekend.
BTC was trading around $30,200 at press time and is roughly flat over the past 24 hours and up by 3% over the past week.
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The cryptocurrency remains in a tight intraday range, with a midpoint at $30,100. That's where the most trading volume occurred over the past two weeks. For now, BTC's price could continue to revert to that midpoint level until a decisive breakout or breakdown is confirmed.
Upside appears to be limited between the $33,000-$35,000 resistance zone, especially as momentum signals remain negative on long-term charts.
Still, momentum remains positive on the daily chart, which could keep short-term buyers active. The 14-day relative strength index (RSI) will need to return above the 50 neutral mark to sustain a recovery bounce in price.
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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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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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