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Bitcoin Tops $11K for First Time in Almost 3 Weeks
Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.
Updated Sep 14, 2021, 10:06 a.m. Published Oct 9, 2020, 10:51 a.m.
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Bitcoin broke through $11,000 on Friday, reaching its highest price in almost three weeks.
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- The rise comes a day after payments company Square announced it had put 1% of its total assets into the largest cryptocurrency by market cap.
- Prices hit $11,023 at 11:05 UTC – the highest since Sept. 20, according to CoinDesk's Bitcoin Price Index.
- The rally to $11,000 marked an upside break from the past two weeks' range of about $10,500 and $10,800.
- The cryptocurrency remained fairly steady above $10,000 over the past two weeks, despite news of the KuCoin exchange hack, U.S. regulators bringing criminal and civil charges against BitMEX, and President Donald Trump's announcement he would end talks with Democratic lawmakers over a new fiscal stimulus package.
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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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