cryptocurrencies

Bitcoin Steady at Resistance; Support Around $57K-$58K

Bitcoin traded in a tight range during Asian hours; resistance around $60K and support around $57K-$58K.

Bitcoin finishes the first quarter double where it started the year, versus a 5.8% gain for the S&P 500. No wonder Goldman's clients want in.

Genesis is cutting bitcoin deposit rates effective Thursday, following BlockFi's reduction last week.

BTC stalled just shy of $60K resistance during Asia hours. Support is around $54K.

Bitcoin's funding rates are rising, a sign traders are willing to take more risk in betting on a fresh rally.

The recent rise appears to show traders finding a renewed appetite for risk taking following a market shakeout over the past of couple weeks.

Intraday overbought signals are not yet extreme, which should keep buyers active towards $60,000-$61,000.

No wonder cryptocurrency markets were so lackluster last week: There just wasn't much appetite from investors to put new money into funds.

But traders should continue to monitor intraday resistance levels as the broader uptrend from January slows.

"Nothing like this has ever happened before," says economist Ian Shepherdson.

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