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Bitcoin Stabilizes After Weekend Sell-Off; Resistance Around $59K
BTC’s April 13 breakout above $60,000 and subsequent all-time high failed.
Updated Mar 6, 2023, 3:30 p.m. Published Apr 19, 2021, 11:14 a.m.
The near 15% price drop in bitcoin (BTC) over the weekend triggered oversold readings on intraday charts. Buyers were able to maintain short-term support around $55,000, although there is strong resistance around $58,000-$59,000.
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- BTC’s April 13 breakout above $60,000 and subsequent all-time high failed. Slowing upside momentum on daily and weekly chart indicates continued profit taking on rallies.
- The last 15% price drop occurred on March 21, which fully recovered and then consolidated for several weeks.
- The relative strength index (RSI) is now oversold on the four-hour chart, which typically leads to price recoveries similar to April 8 and March 25.
- On the daily chart, BTC is holding support just above its 200-day moving average. If selling pressure returns, the next level of support is around $50,000 and then $42,000.
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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.
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- 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.
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- 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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Internet Computer climbs back to $3 as short-term momentum improves
ICP pushed above the $3 level on rising activity, holding recent gains as traders reassess near-term direction.
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- ICP rose about 2.7% to roughly $3.00, reclaiming a closely watched psychological level.
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