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Bitcoin Holds Support, Bounces to $61.4K
A potential technical breakdown would expose a support level near $54,000.
Updated May 11, 2023, 6:43 p.m. Published Oct 27, 2021, 5:53 a.m.
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Bitcoin looks to regain poise during overnight trading, after it avoided a short-term bullish-to-bearish trend change with the help of a crucial support level.
- The top cryptocurrency by market value is trading near $61,400 at press time, representing a 1.4% gain on the day.
- While prices fell by 4.3% on Tuesday, sellers failed to break the support level near $59,800 and confirm a “head-and-shoulders” breakdown on the four-hour chart.
- Chart analysts consider a head-and-shoulders breakdown as a bearish signal. The pattern often yields an extended sell-off to the downside.
- A potential head-and-shoulders breakdown on the four-hour chart would expose support near $54,000.
- Resistance is seen at $63,700, which was the high on Monday. A higher break could take bitcoin to record highs.
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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.
- 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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