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Bitcoin Rises Past $40K; Resistance at $43K and $46K
The price jump reflects short-term bullish activity, although upside appears limited.
Por Damanick Dantes
Bitcoin (BTC) broke above the $40,000 price level on intraday charts, indicating short-term bullish activity. The cryptocurrency pared earlier losses, although immediate resistance around current levels could stall the upswing.
BTC was trading around $41,200 at press time and is up 5% over the past 24 hours.
STORY CONTINUES BELOW
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The two-week long downtrend registered a downside exhaustion signal on Feb. 24, per the DeMARK indicators, which typically precedes brief price rallies. Still, long-term momentum indicators are negative, pointing to limited upside around the $43,000-$46,000 resistance zone.
For now, BTC will need to remain above the 100-day moving average on the four-hour chart, currently near $40,000, to confirm upside targets. Lower support is seen at $37,000, which could stabilize pullbacks into the Asia trading day.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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