Bitcoin market update: BTC/USD dives to $5,800 amid high crypto volatility levels

Bitcoin stays in the green despite the drop to $5,800.
Technically, Bitcoin path of least resistance is upward sideways.

John Isige FXStreet

After trading close to $6,000 Bitcoin has been fighting to stay above $5,850 support. However, high volatility means that price prediction is difficult at the same time rendering support and resistance levels almost insignificant. For instance, the flash drop just moments ago has seen Bitcoin plunge below $5,900 butchering the support at $5,850 to test $5,800.

A reversal has occurred above $5,800 and BTC/USD is trading around $5,844 while supported by the 100 SMA as well as the EMA200. The brief flash drop caused the RSI to dive towards the oversold but reversed on touching 30.00. The MACD, on the other hand, had hit levels around +62.88 is increasing the divergence in the negative region to show that bears are gaining traction.

Technically, Bitcoin path of least resistance is upward sideways. The support atv$5,800 will stay put to the close of the session today while $5,900 is likely to be the barrier to the upside. It is now clear that the journey to $6,000 was not going to be that smooth.

BTC/USD 15’ chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.