Bitget Hot Takes (December 11 - December 17)
Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts.
The latest Bitget Hot Takes can be found here .
Central Themes
• BGB made a new ATH at US$0.598997 on Sunday.
• The U.S. CPI data & FOMC: good news for risky assets.
• Ledger security breach affected a wide range of DeFi protocols and their users.
BGB Made A New ATH (And Why You Should Get Used To It)
After recovering from the low of the week Dec 04 - 10, BGB completely turned tables last week by shooting to US$0.598997 on Sunday from US$0.484541 on Monday - without looking back. It looks like we have a strange coincidence here where BGB seems to go against the current many times, up when Bitcoin and the majority of the market go red and vice versa. We should've seen this coming: in a week where Bitcoin slid from US$44K, BGB was able to make a new all-time high, which is only a mere four weeks from the old ATH record in November . The trend continues into this week (Monday, December 18) with the updated ATH of US$0.616802 .
Volatility is up and we're still not complaining, cuz it's up for a good reason.
Volume went down for the first half of the week because of the selling pressure. The 4H RSI dipped below 29 on December 11 before bouncing back, but volume needed to see RSI above 69 to pick up and match the accumulation trend.
The summary of BGB’s wonderful journey up until the November ATH is presented here: BGB Achieving New ATH In November (available in your languages), yet we have every reason to expect a nice surprise before New Year. Are you with us?
We also provide weekly analyses of BGB in our Bitget Hot Takes Series and on a monthly basis with the BGB Sail Series:
It's All Good For The Last Days Of December
Two pieces of economic news fuelled the green across markets - mind you that Bitcoin receded back to US$40K in the first few days of the week before going up and hanging around US$41-42K after the U.S. CPI data release on Tuesday and the FED's decision on Wednesday. The former shows a continued trend of cooling inflation, with headline CPI decreasing from 3.2% in October to 3.1% in November and the core CPI remaining flat for three months in a row, and serves as key inputs for the latter. The FED has been trying their best to pull off a soft landing and that miracle doesn't seem as far off now as it did at the beginning of the year: the headline CPI went down by less than 3% off from June 2022's 9% but more than halved after 11 months, and the more stubborn core CPI also saw a consistent decline since March. Hence, there's no need to increase interest rates for the last month of 2023, and markets have been celebrating this decision.
Due to the massive liquidations on Monday-Tuesday , volume in spot markets & futures OI dropped and only went up again from Wednesday-Thursday (after CPI and FOMC).
The Latest Bitget News
Check out the latest awesome Bitget New Listings here - each comes with its own set of events:
[Initial Listing] Elemental Story World (PGT): Spot - Introduction - Announcement Center
[Initial Listing] LifeRestart (EFIL): Spot - Introduction - Announcement Center
Samoyedcoin (SAMO): Spot - Introduction - Announcement Center
Baby Grok (BABYGROK): Spot - Introduction - Announcement Center
Seamless (SEAM): Spot - Introduction - Announcement Center
Multibit (MUBI): Spot - Introduction - Announcement Center
TurtSat (TURT): Spot - Introduction - Announcement Center
SOLS (SOLS): Spot - Introduction - Announcement Center
ALEX Lab (ALEX): Spot - Introduction - Announcement Center
Fusionist (ACE): Spot - Introduction - Announcement Center
The festive season is here, let’s celebrate with cheers! First of all, grab your bag of crypto at minimum costs with our Bitget Zero-Fee Program - special edition: Zero Fees + Instant 1% Rebate for Visa/MasterCard holders from all countries and regions ! Don't forget the weekly flash 48H of Zero Fees & new addition to the Zero-Fee coin family: APT !
You’ll also be bedazzled by the brilliance of our other Xmas and New Year events where you can win:
• limited NFT giveaways: Bitget Xmas & New Year Crypto Market
• $120 in bonus: Deck The Halls With Festive Rewards
• hot coins/tokens: Spin The Wheel To Get Your Christmas Gifts
• a mystery box of US$50,000 in ETH, BGB, USDT, TIA, T2T2, GAS: Deposit2Win
Welcome to Bitget, beloved new users! First things first, go check out your Bitget Rewards Center to claim your welcome package of up to 5,027 USDT before diving in the following new user-exclusive events:
Get 50 USDT when you join Bitget
Up to 66% APR in Savings - Exclusive for new users in December
Looking for extra earning options on Bitget? Check this out:
• Exclusive for Institutional Investors: Deposit EUR to enjoy a 30-day VIP pass !• Bitget Savings : New tokens can be added to our savings vaults within days after the listing with up to 100% APR for a limited time! The newly added options are INSP with up to 15% APR and ZKS , LSD7 and PGT with up to 30% APR! Enjoy the Savings Boosts before they are sold out!
• Bitget Launchpool : Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! Exclusive pools for new users as well!
• Bitget Snowball and Bitget Smart Trend : New subscription period begins every Monday!
• Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday
• Win hot tokens for FREE: Everyone gets their share of Bitget’s Christmas gifts
• Also for the festive season: Deposit $100 and get a $120 bonus !
Bitget Spot Trading ’s volume decreased by 8.1%, mostly due to Bitcoin plunging to US$40K Monday, and Bitget Futures Markets ’s average crypto OI went down by 13.7%, average Bitcoin OI by 16.8% in the last 7 days, meaning Bitcoin dominance on our futures market once again fell to 48%.
New Events
0 Fee & Get Extra Crypto Bonus with Visa / MasterCard
New user exclusive: Buy crypto to get up to a 50% rebate!
Join the GensoKishi Metaverse (MV) promotion to share US$17,000 worth of MV!
Samoyedcoin (SAMO) will be listed on Bitget. Come and grab a share of $4,000 worth of SAMO!
XENO Governance (GXE) will be listed on Bitget. Come and grab a share of 800,000 GXE!
Elemental Story (PGT) will be listed on Bitget. Come and grab a share of 260,000 PGT!
Seamless (SEAM) will be listed on Bitget. Come and grab a share of 800 SEAM!
Multibit (MUBI) will be listed on Bitget. Come and grab a share of $4,000 worth of MUBI!
Trade, net deposit, and invite friends in CandyBomb to earn CVTX!
TurtSat (TURT) will be listed on Bitget. Come and grab a share of 640,000 TURT!
XELS (XELS) will be listed on Bitget. Come and grab a share of 11,000 XELS!
Limewire (LMWR) will be listed on Bitget. Come and grab a share of 12,000 LMWR!
ZKPEPE (ZKPEPE) will be listed on Bitget. Come and grab a share of 170,000,000 ZKPEPE!
Creditcoin (CTC) will be listed on Bitget. Come and grab a share of $4,000 worth of CTC!
TonUP (UP) set to launch on Bitget Launchpad! The more BGB you commit, the bigger your share!
BTCMEME (BTCMEME) will be listed on Bitget. Come and grab a share of $4,000 worth of BTCMEME!
ALEX Lab (ALEX) will be listed on Bitget. Come and grab a share of 140,000 ALEX!
Prometheum Prodigy (PMPY) will be listed on Bitget. Come and grab a share of 1,200,000 PMPY!
MARBLEX (MBX) will be listed on Bitget. Come and grab a share of 42,000 MBX!
SOLS (SOLS) will be listed on Bitget. Come and grab a share of $4,000 worth of SOLS!
LifeRestart (EFIL) will be listed on Bitget. Come and grab a share of 13 EFIL!
Good Reads
Analysoor: A Revolutionary NFT Platform and the Rise of ZERO Token
LifeRestart (EFIL): Embrace Simplicity with the BRC-20 Meme Coin
Leverage Your First-Mover Advantage With Fusionist (ACE) On Bitget
Alex Lab (ALEX) Unleashed: Bridging Bitcoin and DeFi for a New Era
SOLS Token: Pioneering a New Era of Solana
Simply create an account , and start exploring the incredible Bitget-Verse today!
