HEADLINE (HDL) news

Bitcoin price sees $94K dip as crypto retreats on US CPI overshoot

Bitcoin sags as inflation worries return to crypto markets on the back of a grim January CPI print. Bitcoin dipped below $95,000 around the Feb. 12 Wall Street open as US inflation data beat estimates across the board. The January print of the Consumer Price Index (CPI) was higher than expected on both monthly and yearly timeframes. Data from the US Bureau of Labor Statistics (BLS) confirmed that CPI rose 0.5% last month, a conspicuous 0.2% more than anticipated. The year-on-year increase was 3% versus a forecast of 2.9%. “Headline CPI inflation is up for 4 straight months and Core CPI is officially back on the rise again. Inflation in the US is HOT,” trading resource The Kobeissi Letter wrote in part of a response on X. “This officially marks the highest CPI inflation reading since June 2024. Even more concerningly, headline CPI inflation rose by +0.5% MoM, a massive jump. Rate cuts will be delayed even further.” The latest estimates from CME Group’s FedWatch Tool thus showed bets on the Federal Reserve cutting interest rates at its next meeting in March, dropping sharply to just 2.5%. Traders additionally lowered the likelihood of cuts coming in the first half of 2025, instead favoring October as the next date for policy easing. Source: CoinTelegraph Futures Market Updates With short positions got rekt after BTC recovered, the Long/Short ratio has turned into over 1.0 again. Bitcoin Futures Updates Total BTC Open Interest: $61.37B (+1.04%) BTC Volume (24H): $86.31B (+23.09%) BTC Liquidations (24H): $39.65M (Long)/$34.74M (Short) Long/Short Ratio: 50.10%/49.90% Funding Rate: 0.0073% Ether Futures Updates Total ETH Open Interest: $23.53B (+5.86%) ETH Volume (24H): $42.78B (+30.46%) ETH Liquidations (24H): $26.32M (Long)/$37.33M (Short) Long/Short Ratio: 50.91%/49.09% Funding Rate: 0.0077% Top 3 OI Surges B3: $9.95M (+486.97%) BSW: $11.33M (+446.38%) BAKE: $45.92M (+360.32%)

BGB's New All-Time HIGHS: A Reflection Of Purposeful Growth

The cryptocurrency market thrives on milestones, and Bitget Token (BGB) is the latest to capture attention by reaching new all-time highs. On December 19, 2024, BGB hit $4.88, adding another chapter to its remarkable journey. But beyond the headline figures lies a more compelling story: BGB's rising to glory reflects not just market trends but the evolution of crypto exchanges, the power of utility, and the changing dynamics of digital assets. If you've been watching from the sidelines, you might wonder: what makes BGB's journey unique, and why is this moment worth noticing? Let's explore what's truly driving the growth of this token and how it fits into the broader crypto narrative. Beyond Price: What BGB's Growth Really Represents At first glance, BGB's surge might appear as another case of market exuberance. But a closer examination reveals a convergence of factors that are as much about strategy and execution as they are about market sentiment. The Power of Purposeful Utility What sets BGB apart is its role within the Bitget ecosystem. Unlike many tokens that rise and fall on speculative whims, BGB derives its value from tangible, consistent use cases: Trading fee reductions: A simple yet effective incentive that helps users save money while encouraging token retention. Exclusive access: BGB holders participate in Bitget Launchpad, Bitget LaunchX, Bitget CandyBomb, gaining early entry to promising projects—a value proposition that resonates with active traders. Locking rewards: The option to generate passive income on Bitget Launchpool, Bitget PoolX, Bitget Savings, Bitget Smart Trend attracts both retail investors and institutional interest and reinforces long-term token holding. BGB is not a token looking for a purpose; it's a token fulfilling one. This alignment between utility and demand creates a stable foundation for growth. Strategy, Not Hype Bitget's rise as a top-tier exchange mirrors the success of its native token. But what's striking is the strategic approach: Global reach: Regulatory approvals in Europe and El Salvador reflect a deliberate effort to expand into promising markets. Local connections: Supporting bank transfers in regional areas is about building trust and accessibility in local markets from a global vision. Cultural integration: Partnerships with athletes and events go beyond branding, as they humanise the platform and create relatable touchpoints for users worldwide. Rather than chasing trends, Bitget is a platform setting the pace. Why BGB's ATH Matters—Even If You Don't Own It The cryptocurrency world often talks about “fear of missing out” (FOMO), but the real significance of BGB's news ATHs goes beyond short-term trading opportunities. Here's why this milestone is worth paying attention to, whether you hold BGB or not: A case study in ecosystem-driven growth: BGB is proving that exchange tokens can transcend mere speculation. By anchoring its value to Bitget's growth and providing tangible benefits, BGB demonstrates how tokens can become integral to user experiences rather than being secondary to them. Shaping the future of exchange tokens: While competitors have paved the way, BGB is carving out its niche by focusing on inclusivity and accessibility. Its steady rise offers a blueprint for other platforms aiming to create meaningful token ecosystems. Reflecting broader market trends: BGB's growth comes at a time when the cryptocurrency market is maturing. Regulatory clarity, increasing institutional interest, and the growing importance of utility-driven tokens suggest a shift away from speculative cycles towards more sustainable models. BGB's Rise: A Story Of Numbers, Psychology, And Opportunity BGB shooting to its all-time high of $4.88 is a story that captures the psychology of markets and the power of well-crafted tokenomics. For some, this milestone cements BGB's position as a token with untapped potential, while for others, it raises the question of whether they've underestimated its trajectory. The scarcity built into BGB's design, through periodic burns and a capped supply of 2 billion tokens, adds to its allure by transforming scarcity into a tangible driver of demand. This deliberate structure cultivates exclusivity, aligning market perception with long-term value. The fascinating price history of BGB. Source: Bitget Spot Trading At the heart of this rise is the unwavering confidence of BGB's community. Each new ATH does not only validate the token's price, but also strengthens the collective belief in its potential to create a reinforcing cycle of trust and growth. This trust is bolstered by the continuous expansion of tangible utilities. As a result, BGB has carved out a niche where its narrative is as compelling as its numbers to become a token that both investors and users can rally around. The future for BGB is as promising as it is challenging. The $5 barrier is firmly in sight, with analysts pointing to growing demand and market momentum as catalysts. Yet, sustained success will depend on more than price milestones. Bitget's ability to innovate, realise the token's new use cases, and navigate market volatility will determine whether BGB can maintain its upward momentum. For now, its journey offers a lesson in how utility, scarcity, and community can converge to create a compelling and enduring narrative. A Moment To Celebrate And Reflect BGB's latest series of ATHs is undoubtedly a milestone worth celebrating, but it's also an opportunity to reflect on the deeper trends shaping the cryptocurrency market. Whether you're an investor, a trader, or simply an observer, BGB's rise offers valuable insights into how utility, strategy, and community can come together to create something more than just a token a.k.a. a movement. For those who already hold BGB, the message is clear: you’re not simply investing in a token but part of a vision. For those watching from the sidelines, perhaps the question isn't just "should I buy now?" but "what can I learn from this success story?" In a market often dominated by noise, BGB is making its presence felt through substance. And that, more than any ATH, is worth paying attention to. Trade BGB on Bitget today! Disclaimer: The opinions expressed in this article are for informational purposes only. Qualified professionals should be consulted prior to making financial decisions.

Bitget Hot Takes (March 11 - March 17, 2024) - Market Updates

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here: All About Bitget | Market Updates Central Themes • Bitcoin new ATH: US$73,750. • Solana briefly flipped BNB to become the fourth largest cryptocurrency. • U.S. CPI data for February shows sustained inflation. Week 11: Solana Flipped BNB To Become The Fourth Largest Cryptocurrency The Ethereum network's Dencun upgrade finally went live. This upgrade introduced critical improvements like proto-danksharding, which aims at enhancing scalability and efficiency, thereby reducing transaction fees on Layer-2 networks. While primary Ethereum network users wouldn't see immediate fee reductions, the upgrade was a vital step towards Ethereum's goal of mass scalability and accessibility. Specific L2 platforms, such as Arbitrum and Base, have seen significant reductions in their transaction costs: Base's average fees dropped to $0.03 from around $1.50, while Arbitrum's fees decreased to just $0.04. One thing worth mentioning here is the sentiment difference in Bitcoin and Ether markets, which is reflected on the net flows of these tokens into exchanges. After Bitcoin made the new ATH, Bitcoin owners quickly withdrew BTC to their wallets, leading to an outflow of US$2 billion last week. By contrast, US$609 million in ETH was transferred into exchange wallets, which could signal a somewhat bearish momentum for Ethereum. After all, it takes some more time for gas fees on Ethereum to reduce; the team's primary focus at the moment is still supporting L2s. Inflows into spot Bitcoin ETFs continued to drive up demand for the largest crypto, with some breaking their own record: BlackRock's IBIT with a single-day net flow of US$848,978,000 on March 13, VanEck's HODL with US$118,846,000 on March 12, and Franklin's EZBC with US$19,086,000 on March 14. The surge in inflows into VanEck Bitcoin fund is a result of their decision to cut down management fees to 0% until the end of this month, but it's still not enough to compete with IBIT and FBTC, whose weekly netflows stand at US$2 billion and nearly US$700 million, respectively. Futures Bitcoin funds continue to see declining interest, but leveraged funds like BITX remained quite popular. Inflows into BITX were recorded at US$393,811,000, into BITI (short Bitcoin futures fund) at US$24,279,000, mostly on March 11 and March 12, whereas US$57 million flew out of BITO last week. The average weekly volume of spot Bitcoin ETFs increased by half a billion U.S. Dollar, but all saw red this week not only because of the ongoing price corrections but also because of the latest the U.S. inflation data release. At 3.2% YoY, the headline inflation rose higher than the expected 3.1%, and the core CPI for February is 3.8% YoY compared to the forecast of 3.7%. U.S. Inflation has been swinging back and forth between 3% and 4% (YoY) since June 2023, turning itself into a real menace for the FED. Rate cut probability in June 2024, per market consensus, fell to just 55.5% one day ahead of the next FOMC meeting on March 20. This week is packed with other key economic events around the world, such as: bank meetings in the United Kingdom, Japan, Australia, and Brazil, together with inflation data release in the United Kingdom, Canada, and Japan. China will report activity data for the first two months of 2024, which could signal the pace of economic recovery and growth in one of the world's largest economies. These data points, including industrial production and retail sales, are essential for understanding China's economic trajectory and its implications for global markets. Solana (SOL) achieved a significant milestone by (briefly) surpassing Binance Coin (BNB) on Sunday (March 17) to become the fourth largest cryptocurrency by market capitalisation at over US$90 billion. This surge was fueled by a 17% increase in Solana's price and was further bolstered by the burgeoning activity in the Solana-based memecoin sector, with Book of Meme (BOME) becoming a phenomenon overnight. The broader rally in Solana includes substantial DeFi activity and a TVL exceeding US$1.3 billion. Setting The Tone: Monday Performance Funding rates have been going down for Bitcoin futures markets, but were still at exceptional levels for Ether, hence the higher percentage of shorts on the markets. Bitcoin dipped to as low as US$66,594 yesterday and Ethereum to US$3,456, triggering some liquidations and resulting in lower number of open positions. Coinbase and mining stocks outperformed the broader stock markets with a 0.4% and 2.0% (weighted average) gains. Spot crypto ETFs reported US$21 million in trading volume yesterday - all closed at lower levels. Trade BTC and ETH on Bitget today: Bitget Spot Trading | Bitget USDT-M Futures | Bitget Coin-M Futures | Bitget Copy Trade New Events New user exclusive: Buy crypto to get up to a 50% rebate! Credit/debit card anniversary — buy BTC to win 100% guaranteed rewards! #BitcoinHalving: make a bank transfer of EUR or BRL to grab a share of $500,000 in BTC! BTC ETH offer — Enjoy a 100% fee rebate on credit/debit card purchases! 100% guaranteed: Spin to win 500,000 BGB, XRP, ADA, BTC, and more! Polyhedra Network (ZK) to be listed on Bitget — grab a share of 200,000 ZK from Launchpool! Bitget Will List Polyhedra Network (ZK). Come and grab a share of $230,000 worth of ZK! Join the Bitget x SLERF Campaign Now to Claim Your Special $5,000 SLERF Rewards! Join the Bitget x Etherfi Campaign Now to Claim Your Special $4,000 ETHFI Rewards! Join the Bitget x GOMDori Campaign Now to Claim Your Special $2,000 GOMD Rewards! Join the Bitget x IQ50 Campaign Now to Claim Your Special $2,000 IQ50 Rewards! Good Reads All You Need To Know About Ethereum Dencun Upgrade - Simplified Bitcoin Halving: Will We Land on the Moon? Memecoin Season Is Unstoppable What is Passkey and How to Secure Your Bitget Account with It The Future of Cryptocurrencies Simply create an account, and start exploring the incredible Bitget-Verse today!

Country Roads, Take Me Home: BTC Surpassed US$72K, ETH Crossed US$4K

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here: All About Bitget | Market Updates Central Themes • Straight up to US$72K: Bitcoin shot up to US$70K on Friday then US$71K and US$72K yesterday. • Ethereum smashed US$4K for the first time since December 28, 2021 ahead of the Dencun upgrade. • Crypto stocks saw red as the wider TradFi markets brace for inflation data and FOMC. Week 10: Bitcoin Is Not The Only One To Record A New ATH Bitcoin returned the record made in November 2021 by breaching US$68,500 on March 04, 2024. In our analysis of the event, we did mention that US$68,789 in November 2021 would be equal to US$76,329 in January 2024, and therefore Bitcoin may very well break its own record this year. For the short term a.k.a. as a matter of hours after any high, there tend to be immediate corrections to wipe up those overleveraged and/or fomo long positions, which perfectly explains why BTC fell to US$62.3K (-9%) in less than 12 hours. Regardless, funding rates across exchanges remained at insane levels of 0.06% or more, representing the unwavering bullish sentiment and thus once again bringing BTC prices to US$69,170 on the very next day. The process was repeated again and again: • on March 05: Bitcoin made a new all-time high at US$69,170 before crashing to US$59,324 (-14%); • on March 06: Bitcoin rose to a daily high at US$67,637 before crashing to US$62,849 (-7%); • on March 08: Bitcoin recorded a new all-time high at US$70,083 before crashing to US$66,230 (-5%). As BTC constantly challenged skeptics with new ATHs, there's a reason for crypto stocks to demonstrate so humble returns compared to those of last weeks: the upcoming CPI data, which will be released later today (March 12) with current forecasts of 3.1% YoY, 0.4% MoM for the headline inflation and 3.7% YoY, 0.3% MoM for the core inflation. These numbers play a vital role in the FED's rate cut path - something that is supposed to take place this year based on Powell's recent testimony to the Congress. Volume of GTC was on par with FBTC - both only second to IBIT - but for the same not-so-merry reason. More than US$1.8 billion flew out of GBTC last week, almost double that of W9. We again believe that's capital being reallocated to other new-born Bitcoin ETFs such as IBIT and FBTC. It's important to note, though, that ProShares Short Bitcoin Strategy ETF (BITI) saw a net outflow for the first time since February 08 on March 07, one day after BlackRock's IBIT experienced a new record daily inflow at US$788,290,000. Outflow from hedging tools and inflow for investments? Definitely not play field for bears. If the Father a.k.a. BTC has spoken, then the Mother (of all altcoins) has no reason to stay quiet, especially with the upcoming Dencun upgrade that should benefit all L2s built on Ethereum. The last time we saw sharp increases like this in ETH prices was way back in 2021, a really really long time ago because of Terra (LUNA) fall and FTX collapse in 2022. It had been hovering right below US$4,000 for most of the week, with funding rates close to BTC's. Notable for the week is the memecoin frenzy : there are six memecoins in the list of Top 10 Cryptocurrencies (DOGE, SHIB, PEPE, BONK, WIF, and FLOKI ), Solana-native WIF officially entered the US$1B-market cap club, and this phenomenon is the reason behind Ethereum's sudden surge in gas fees. Eager to share the fun of internet jokes? Join Bitget Meme Mania to win four of the largest memecoins! However, memecoins had to share the spotlight with AI tokens and another (rather unexpected) category, GameFi. Data shows that the market cap of GameFi tokens combined has increased by 6% on Sunday compared to the overall market's 2.2% expansion. AI tokens also brought in decent gains last week, for example GRT/USDT, INJ/USDT, RNDR/USDT, FET/USDT, and AGIX/USDT. Setting The Tone: Monday Performance 'To the place I belong' must be Bitcoin's mantra recently. Not only did it surpass US$71,000 but the largest crypto pushed through it all the way 'til US$72,850 yesterday, and funding rates still show something much above 0.01%. Yesterday was indeed a big day, for Ethereum easily jumped to the other side of US$4,000 only hours before blobs went live today. To know what blob is, take some time to really devour this article, where we already simplify everything you need to know about Ethereum Dencun upgrade. Coinbase and MicroStrategy's stocks dipped harder than the broader tech market (the NASDAQ Composite was down by 0.4%) and SP 500 (-0.1%). Demand was still good for spot Bitcoin ETFs, with IBIT showing over US$3 billion in 24-hour volume and combined volume being only slightly lower than Friday. 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BTC price reaches an all-time high! 9000 BGB up for grabs! Join the Bitget x CoinNess Community Campaign Now to Claim Your Special $2,000 NESS Rewards! Trending coin carnival — Grab a share of 50,000 BGB in the AI Zone Complete net deposit and spot trading tasks on CandyBomb to earn NESS! Good Reads How Ethereum's Dencun Upgrade Will Affect the Crypto Market All You Need To Know About Ethereum Dencun Upgrade - Simplified "We are so back", "LFG", "Up only": Bitcoin Recorded The New ATH At 69K Bitcoin Halving: Will We Land on the Moon? Memecoin Season Is Unstoppable Simply create an account , and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (January 08 - January 14, 2024)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here. Central Themes • All 11 spot Bitcoin ETF applications were approved at once; trading began already on Thursday. • Focus in the U.S. turned to the spot Ether ETF narrative; Hong Kong is open to exploring spot crypto ETFs; South Korea stands firm with their 'no crypto ETFs' policy. • U.S. CPI and core CPI data came out higher than expected. • Stablecoin issuer Circle filed for U.S. IPO. • Bitget Card is OUT - be the first one to own the exclusive off-ramp gateway by Bitget x Visa BGB: More Room To Rise After climbing to US$0.6808 in the first week of 2024, BGB saw a correction last week. The weekly high fell to US$0.64 while the weekly low rose to US$0.59, but this low was out of the Bollinger Bands and rebounded right back within, hence the correction trend should not last long. Indicators are pointing to a buildup of momentum: a lot of room for BGB prices to increase, spread tightened, volume is down. As mentioned above, BGB volume saw a decline of nearly 20% despite prices going back to US$0.60, so there's no short-term FOMO buyers here. Investors are apparently waiting for a price breakout (or more - see how 2023 turned out for BGB diamond hands?), which shall come with the stabilisation of Bitcoin prices, especially when a relationship between BGB and Bitcoin seems to have somewhat developed in the last few weeks. Extra Volatile Grayscale's win over the SEC in court has paved the way for the long-awaited spot Bitcoin ETF approval in the U.S . And it's not just Grayscale's conversion application but all 11 applications as a whole! Here's the name and ticker of all 11 spot Bitcoin ETFs that began trading last Thursday (January 11, 2024): • Bitwise Bitcoin ETF: BITB • VanEck Bitcoin Trust: HODL • Grayscale Bitcoin Trust: GBTC • Fidelity Wise Origin Bitcoin: FBTC • Blackrock's iShares Bitcoin Trust: IBIT • Franklin Bitcoin ETF: EZBC • 21Shares & Ark Bitcoin ETF: ARKB • Invesco Galaxy Bitcoin ETF: BTCO • Hashdex Bitcoin Futures ETF: DEFI • WisdomTree Bitcoin Fund: BTCW • Valkyrie Bitcoin Fund: BRRR There are VanEck (HODL) and Hashdex (DEFI) whose names sound very.. dedicated, while the rest mostly follow the issuers' name standardisation. These 11 ETFs achieved nearly US$7.7 billion in trading volume in only two days, with Bitwise being the winner of Day 1 with US$625.8 million in net flow . Based on their performance and volume this week, we will decide on providing a summary of their performance in the following Bitget Hot Takes issues. So spot Bitcoin ETF approval is a good thingy, and prices must be up only, right? Why the red? You may want to check out our guide for the near future here: DDD-Day: Bitcoin ETF Is Approved first, where we already predicted extra volatility after the approval. Besides, remember that in crypto markets there's something called perps (perpetual futures contracts ), which have no expiry and track the underlying asset's spot prices closely. This is a good time for whales to 'kill' the long orders before attempting to clear the short ones as well, since many still tend to trade with emotions and the moment they see prices decrease, they'll react with a high-risk short. This is not to say that we shall never trade during these volatile times, but better time your trade and up your skills to minimise the risk of liquidations. There's another reason for the bleeding across all markets last week: the latest U.S. CPI data release . Expected was 3.2% YoY for the headline CPI and 3.8% for the core CPI, but the actual numbers are 3.4% and 3.9%, respectively. This means the FED's recent dovish pauses will likely come to an end, or at the bare minimum, rate cuts should not begin in as early as March. However, data from FedWatch Tool suggests that there are indeed more investors looking for the FED's lowering interest rates starting from March: 70% from 60.9% as of last week . The Latest Bitget News First and Foremost: Bitget Card IS OUT! Bitget has simplified crypto on-ramp for even the noobest of noobs (at zero cost on selected days even), and now it's time to conquer the real world with Bitget Card - a credit card provided by Visa and Bitget! You only need to have some crypto in your Bitget account to enjoy instant ultra-high USD spending limits no matter where you are! Besides, BGB cashback is soon to be added for Bitget Card holders - be the first to get a Bitget Card and earn more on your spending! Bitget Card Introduction is available here , together with our tutorial on how to apply for your Bitget Card . Want to learn more about BGB? Check out our BGB White Paper and BGB Intro Top daily gainers of the week on Bitget include XAI/USDT, APP/USDT, DOME/USDT, ELA/USDT, and RABBIT/USDT. To help you understand the hype behind these tokens, we have provided the most comprehensible token intros as follows: Xai (XAI): The First Layer-3 Blockchain For First-Class AAA Gaming Satisfy Your Need For Speed With Moon App (APP) Everdome (DOME): The Hyper-Realistic Metaverse of Tomorrow Rich Rabbit (RABBIT): The Extraordinary Convergence of Meme Coin, DePIN, and Space Exploration New users are so very welcome to invest wisely in crypto by minimising costs. Time the market and make 0-fee crypto purchases on Wednesday and the weekend as Credit/Debit card owners! It's not just limited to newbies, experts can deliberately join, too! Don't forget to check out the great Bitget Reward Center for 5,027 USDT in welcome bonus and take our limited-time offer for 50% rebate on crypto purchases . Hurry up, 1,200,000 USDT in rewards is being distributed on a first-come, first-serve basis until JANUARY 31 ONLY! Looking for extra earning options on Bitget? Check this out: • 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 AIMX , ZKF , and ELA with up to 50% APR, DUSD with up to 40% APR and OX , $AI , FNSA , XAI , and DOME 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 All Bitget Earn guides are available here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Snowball | Bitget Wealth Management New Events 2-week offer: Zero fees on credit/debit card crypto purchases Guaranteed Win at Bitget's Lucky Wheel! Spin Now for a Chance at 1 BTC! Join the spot margin trading competition to win 5000 USDT and the first welcome gift for 2024! Upgrade your VIP level to grab a share of 95,500 USDT! Trade, net deposit, and invite friends in CandyBomb to earn ELA! Trade, net deposit, and invite friends in CandyBomb to earn OORT! Post Comment on Insights, Share 6000 $BGB Prize! Join the 2024 Bitget Builders Program: Become a million-follower influencer and unlock your wealth code! 2024 Wheel of Fortune — deposit EUR and BRL to win SNEK, OX, BRCT, BGB, AI, SOL, and ETH! Celebrate the ETF Approval: Trade with Bitget & Win Your Share of 1 BTC Become a star trader or star follower to share 6000 USDT every week Start 2024 with a Bang: Every Deposit Doubled in Rewards! Deposit to List: Propbase (PROPS) - Deposit and Share 666,666 PROPS Rewards! Deposit to List: Vyvo Coin (VSC) - Deposit and Share 187,500 VSC Rewards! Xai (XAI) will be listed on Bitget. Come and grab a share of $4,000 worth of XAI! Strike (STRIKE) will be listed on Bitget. Come and grab a share of 800 STRIKE! MangoMan Intelligent (MMIT) will be listed on Bitget. Come and grab a share of $8,000 worth of MMIT! Everdome (DOME) will be listed on Bitget. Come and grab a share of 48,000,000 DOME! Moon App (APP) will be listed on Bitget. Come and grab a share of $10,000 worth of APP! Sologenic (SOLO) will be listed on Bitget. Come and grab a share of 64,000 SOLO! Good Reads DDD-Day: Bitcoin ETF Is Approved Bitget Card: Unlocking the World of Crypto Bitget Card: An Ultimate Tutorial Everdome (DOME): The Hyper-Realistic Metaverse of Tomorrow Satisfy Your Need For Speed With Moon App (APP) Simply create an account, and start exploring the incredible Bitget-Verse today!

For A Good Slide Into The New Year: Crypto 2023 Recap

As we see more and more signs of a new bull cycle, let's take a look back at the decent 2023, which leads us right out of 2022's utter chaos. More Favourable Economic Regulatory Environment Cryptocurrencies are categorised as a risky investment type, just like stocks, and higher borrowing costs a.k.a. higher interest rates did have some negative effects on crypto prices. That, on top of the bloodbath we witnessed first-hand in 2022, pushed Bitcoin to US$16,521 - its record low since the DeFi Summer 2020. That is also equivalent to a drop of 76% from its all-time high in November 2021. The FED has been aiming for a 'soft landing', that is, to successfully curb inflation without wrecking the economy. But it wasn't until June 2023 that the stubborn core CPI began to move below 5%, whereas the headline CPI already shows significant declines since September 2022. So the FED pressed the pause button on their hawkish interest rate policy, maintaining a 5.25-5.5% range for borrowing since July 2023. That allows Bitcoin price to reverse its course and top US$30K, US$40K and US$44K in less than three months of Q4 this year. It's important to acknowledge the global race for crypto regulation as jurisdictions make the efforts to open doors for crypto - and crypto ETFs as well. The rising stars of the year include Hong Kong and Singapore as the two biggest crypto hubs in Asia and Dubai in the Middle East. Meanwhile, EU and UK companies are expected to comply with MiCA and FSMA to begin providing crypto investment products to more people. The crypto market was poised with two court wins this year: one from Ripple Labs and one from Grayscale, both setting historical precedent for the entire industry. Though Ripple's victory is only partial, at least it keeps the SEC's hands out of crypto sales to retail investors because the ruling says that sales of XRP on exchanges, or by executives, or XRP transfers to developers, employees and charities don't constitute securities. In the case of Grayscale, their win almost guarantees the launch of an ETF tracking the spot price of Bitcoin in the U.S., which is already way behind other countries in terms of institutional access to crypto. The Recovery We Needed Last year was brutal, but as K33 Research has pointed out, this might be the shortest bear market in crypto history. Bitcoin is back to US$44,000 on December 21, Ethereum back to US$2,300 on December 05, but the global market cap already returned to the US$1 trillion mark in January 2023. We have seen XRP flipped BNB to become the fourth largest cryptocurrency by market cap for a brief two weeks then Solana on the rise. However, the spotlight (still) belongs to the flagship cryptocurrency Bitcoin with the inception of NFTs on this network, one collection of which was recently sold by the prestigious auction house Sotheby's . as well as the emergence of BRC-20 (fungible) tokens. To learn more about Bitcoin Ordinals (Bitcoin NFTs) and BRC-20 tokens, check out many of our takes on the theme: BRC-20 Tokens: A Primer What Are Bitcoin Ordinals? Everything You Need to Know About Bitcoin NFT Top 5 Most Valuable Bitcoin Ordinals Collections That Are Leading the Market BRC-20 Tokens Market Cap Reaches $3.3 Billion: Why How Ordinals on Bitcoin: Disruptive Innovation or a Challenging Dilemma? Exploring Bitcoin NFTs: The Journey from Counterparty to Ordinals Behind The Hype: Bitcoin NFTs and the Rise of Ordinals - Top 5 Questions Answered Also worth mentioning is the death of one big stablecoin - BUSD - as part of the continuous regulatory crackdown on Binance. The latest to join the game is payments giant PayPal with PYUSD, a stablecoin fully backed by U.S. Dollar deposits and consequently the buy and sell of PYUSD on PayPal . On the other hand, the issuer of the dominant stablecoin USDT Tether shows their determination to cooperate with law enforcement agencies by onboarding the FBI and the U.S. Secret Service. Stablecoins are mainstream's gateway into the digital space, hence stablecoin regulations and compliance are extremely vital for a thriving crypto market. Countdown To January 10, 2024 Not yet mentioned is the prospect of a spot Bitcoin ETF approval in the U.S. So far, Wall Streets only get their hands on ETFs that offer exposure to Bitcoin futures contracts on the CME, with the ones of highest liquidity being ProShares Bitcoin Strategy ETF (BITO) and ProShares Short Bitcoin Strategy ETF (BITI). The SEC's most progressive steps this year were, first of all, the approval of a leveraged (futures) Bitcoin ETF (Volatility Shares 2X Bitcoin Strategy ETF under the ticker BITX) then recent discussions with applicants of spot Bitcoin ETFs, including Grayscale, 21Shares Ark, BlackRock, VanEck, Fidelity, Valkyrie, Hashdex, and Franklin. The earliest deadline for a spot Bitcoin ETF decision is January 10, 2024 for 21Shares Ark Bitcoin ETF (ARKB), followed by Bitwise Bitcoin ETF (BITB) on March 14 and BlackRock's iShares Bitcoin Trust (IBIT) on March 15, 2024, which are already listed on DTCC website. DTCC is one of the biggest providers of securities clearance and settlements, therefore these listings imply the start of these funds' launching procedure. On top of that, there are only more than 110 days until the fourth Bitcoin halving. Are there enough reasons for buoyancy in crypto in 2024? We believe it's inevitable. Fasten your seatbelt, cuz it gon' be upward from here: Bitcoin Halving: Will We Land on the Moon? Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

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: BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition 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 December spot margin perks are ready to get. Join to win Mystery Box and trade to grab a share of 80,000 USDT and win up to 888 USDT in airdrops! 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! Baby Grok (BABYGROK) will be listed on Bitget. Come and grab a share of 760,000,000,000,000 BABYGROK! 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!

Bitget Hot Takes (November 13 - November 19)

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 broke the record at US$0.583651. • Inflation in the U.S. cooled down more than expected. • BlackRock applies for a spot Ethereum ETF; the SEC delays the decision on 2 spot Bitcoin ETFs, one Bitcoin ETF conversion and one spot Ethereum ETF. • Sam Altman kicked out by OpenAI’s BOD. BGB Broke The Record At US$0.583651 While the broader market experienced more than US$332 million liquidated overnight on Monday, BGB was able to make a new all-time high for the 6th time in 2023 when it hit US$0.583651 on November 13, 2023, thus locking in a near-10% gain week-over-week. BGB spent the whole week in green, clearly better than the Top 5 as they all saw a dip since mid-week. That brings the volatility of all tokens discussed up; BGB with the biggest move understandably has the highest one, but we are not complaining. Accumulation trend reversed around November 09 - 10, hence a decrease in BGB’s volume and consequently its volume-to-mcap ratio. But we are seeing signs of reversals again for accumulation and the new ATH must be a good reason for volume to pick up. The summary of BGB’s wonderful journey is presented here: BGB Achieving New ATH In November (available in your languages). If you want to learn more about the perks that come with BGB, feel free to check out this guide. We also provide weekly analyses of BGB in our Bitget Hot Takes Series and on a monthly basis with the BGB Sail Series: BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition Mixed Signals The reasons behind crypto’s rollercoaster week include the positive U.S. inflation data and crypto ETF decisions being delayed. Prices in the U.S. remained flat in October, resulting in the lowest headline CPI since April 2021. We are inching closer to the 2% target, though slowly, and the FED will most likely hold the rates going into 2024 if both inflation and job data continue to show contraction. The markets are almost 100% sure that there will be no rate hike in the December FOMC, per FedWatch Tool. Crypto ETFs and mining stocks enjoyed a mini rally together with the stock markets. However, news about the SEC deciding to delay the spot Bitcoin ETF applications of Franklin Templeton, Global X, Hashdex (conversion application) and Hashdex’s spot Ethereum ETF application has slowed down the recent rally. It seems that we do have to wait until January 2024 to confirm the trend, and the fading optimism is reflected in the key crypto stocks of BITO, BITI, BITX and MSTR. COIN prices, however, went up by 7.9% after a report of South Korea's National Pension Service (NPS) holdings - the third largest pension funds by assets - shows they have acquired US$19 million in Coinbase shares. The Latest Bitget News Besides the awesome gain of BGB, Bitget’s native token, we also witness the rise of familiar projects on Bitget Spot Trading: MOVER/USDT (initially listed on Bitget on March 14, 2023), CHAPZ/USDT (initially listed on Bitget on November 13, 2023), TYPE/USDT (initially listed on Bitget on July 05, 2023) and TEM/USDT (initially listed on Bitget on March 17, 2023). If you are a spot trader, don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Don’t forget that our spot listings always come with a bunch of real good deals:• 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! • Bitget Launchpool: Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! • Buy new tokens with 0 fee: We introduce a new token every week, and you can buy it with your Credit/Debit card at no processing costs for seven days! Added to the program this week is GAS - don’t let this opportunity pass by! Want some extra juicy deals? • Save the date for Bitget’s Black Friday Deals: for the EU region, U.K, Canada, Australia, Spain, Portuguese and LATAM region! • Check out Bitget’s Zero-Fee Program: activated every Wednesday and every weekend for Bitget users who own a Credit/Debit card! • Join Deposit2Win: A mystery box of US$50,000 in ETH, BGB, USDT, TIA, T2T2, GAS is waiting to be opened by YOU • Exclusive for Institutional Investors: Deposit EUR to enjoy a 30-day VIP pass! • Bitget Snowball and Bitget Smart Trend: New subscription period begins every Monday! • Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday Bitget Spot Trading’s volume decreased by 14.2%. Bitget Futures Markets’s average crypto OI contracted by 8.0%, average Bitcoin OI by 10.5% in the last 7 days, meaning Bitcoin dominance on our futures market continued to go down by another 2.9% to land at only 45.7%. These are the effects of the market’s cooldown. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events Join the Bitget Builders team — share a US$20,000 offline event budget and win "Apple Family "products Institutional accounts only: deposit EUR for a free 30-day VIP pass! Art de Finance (ADF) will be listed on Bitget. Come and grab a share of 700 ADF! Tenset (10SET) will be listed on Bitget. Come and grab a share of $15,000 worth of 10SET! Deposit to List: CREPE Token (CRE) - Deposit and Share 359,000 CRE Rewards! Position grid has been officially launched — participate and grab a share of the 30,000 BGB prize pool! Bitget Crypto Clash: Bull vs Bear Showdown! Deck the Halls with Festive Rewards! Deposit $100 get $100 bonus! RATS (RATS) will be listed on Bitget. Come and grab a share of 6,000 USDT! Hot coins event 5: grab a share of 10,000 USDT and 10,000 BGB! Make spot margin trades in November to share 60,000 USDT and Mystery Boxes！ New user rewards — deposit IOTX to grab a share of 380,000 IOTX Start bot copy trading to grab a share of 50,000 USDT Neutron (NTRN) will be listed on Bitget. Come and grab a share of $6,000 worth of NTRN! Deposit to List: D3D Social (D3D) - Deposit and Share 30,000 USDT Rewards! Learn2Earn: Take the Verified USD (USDV) Quiz to Win 20,000 USDV and 10,000 BGB! Verified USD (USDV) will be listed on Bitget. Come and grab a share of 10,000 USDV! Copy trading — 50,000 USDT up for grabs for followers Good Reads BRC-20 Tokens: A Step Back and Forward Pyth Network (PYTH): A Game-Changer in DeFi Oracles Poloniex Hack, Create2 Exploitation, and Protecting Your Digital Asset BGB Sail: October Edition Bitcoin and Beyond: Price Prediction for Cryptocurrencies Bitget Launches Private Mode for Copy Trading Copy Trading Private Mode: A Must-Read for Elite Traders Bitget Private Mode: A Must-read for Followers Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (October 09 - October 15)

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 hit a local low, volume unaffected. • MetaMask briefly removed from Apple AppStore on Saturday. • U.S.’s headline CPI higher than expected at 0.4% MoM and 3.7% YoY. • Paola Ardoino now Tether’s CEO. BGB Hit A Local Low As mentioned last week, BGB was about to reach a local low, and it did at US$0.424916 on Sunday, October 15. We’re already seeing the bounceback and supporting indicators thenceforth; it’s safe to assume that the correction is over. This short-lived decline in BGB prices did raise the corresponding volatility, but it’s still pretty modest compared to that of major coins: the only one with decreasing volatility over the last few days is Bitcoin, whose figure remained above BGB’s until the very last day of the week. With XRP losing its appeal from Judge Torres’ decision in July, its volume is also affected in a negative way, which of course excludes periods of sell-offs. BGB’s volume to market cap ratio is sticking to the 0.03 mark, and 7D volume was almost unchanged (+1.9%) despite lower price levels. That is, holders have seen the token’s long-term potential and temporary losses are nothing compared to the expected return it can bring them, thus the diamond hands. If you are a sceptic, then maybe learn about the perks that come with the wonderful token named BGB first? After all, BGB has always proved itself to be a good investment. You can check out our BGB Sail Series to see how impressive BGB monthly performance is: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition Lurking Concern Of Another Rate Hike The U.S. CPI data for September was released on October 12 at 3.7% YoY, 0.4% MoM for the headline CPI and 4.1% YoY, 0.3% MoM for the core CPI. The headline CPI, which includes the volatile energy and food prices, is a bit higher than the expected 3.6% YoY and 0.3% MoM, therefore stock markets had no choice but to end their four-day winning streak. As for crypto stocks, the only to record a positive week is understandably ProShares’ Bitcoin short strategy ETF (BITI), though the overall trend is some idleness in this sector. The biggest crypto stocks (BITO, COIN, MSTR) saw the biggest drops in volume, ranging from 21% to 33%. On FedWatch Tool, the odds of FED’s raising interest rates in their next meeting has increased to 6.5%, intensifying the competition for capital even between risky assets. The global market cap on October 15’s midnight (UTC) is recorded at US$1,089,550,687,783, accompanied by a lower fear greed index of 47/100. Even the opening price of Bitcoin today is 2.7% lower than last Monday (October 09), which was already inching lower from October 02’s US$27,976.8. However, there are many reasons for bulls to be optimistic: • The deadline for the SEC to appeal the court’s decision on Grayscale Bitcoin ETF has expired, meaning the agency can’t reject Grayscale’s application to convert their trust into an ETF anymore. Yet the agency, notoriously known for its deadline extension for crypto ETFs, still has the final say on when and if the current applications are fault-free. • A proposal by ZeroSync’s core contributor Robin Linus sparks the hope that smart contracts will soon come to the Bitcoin blockchain, i.e. dApps are coming to Bitcoin. • Paul Tudor publicly voiced his support for Bitcoin, citing “I can’t love stocks, but I love Bitcoin and gold”. And take this light-heartedly: Jim Cramer said “Mr. Bitcoin is about to do down big”, so we can’t not bet on the opposite, right? The Latest Bitget News Notable daily gainers include BIGTIME/USDT (+1,756.7%), CBK/USDT (+130%), ORBS/USDT (+124.9%) and STRAX/USDT (+107.8%), with BIGTIME already added to Bitget Futures and Bitget Spot Margin and CBK added to Bitget Fixed Savings with a 80% APR! Bitget Spot Trading’s volume was up by 5.3%, Bitget Futures Markets’s average crypto OI by 9.8%, average Bitcoin OI by 9.3% in the last 7 days, meaning Bitcoin dominance on the futures market slightly went down by 0.4% to land at 54.8%. Don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Our flagship Bitget Copy Trade has just introduced a new feature: Elite Trader Badges! Elite traders now can collect, wear and share badges to showcase their skills as well as earn rewards! Learn more about Elite Trader Badges here. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! Looking at new rounds of Bitget Earn? Subscribe to be the first one hearing from us! New Events Big Time (BIGTIME) will be listed on Bitget. Come and grab a share of US$10,000 worth of BIGTIME! Cobak Token(CBK) will be listed on Bitget. Come and grab a share of 37,000 CBK! Newcomers, Win Big with Your First Deposit and Trade! Orbs (ORBS) will be listed on Bitget. Come and grab a share of $15,000 ORBS! New users only: Join the CandyBomb promotion — trade and make net deposits to earn XOR Start margin trading to share 80,000 USDT! New users can get exclusive rewards! Join the Bitget Builders team — share a US$20,000 offline event budget and win "Apple Family" products Join the bot trading competition and grab a share of 50,000 USDT! Choose bots wisely and join copy trading to win triple rewards of up to 70,000 USDT! Good Reads New to bots? — Start here BGB Sail: September Edition On-chain Games: A New Frontier Mastering Cryptocurrency Trading: A Comprehensive Guide Unlocking Real-World Assets on the Blockchain: A New Frontier in Finance Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (September 11 - September 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’s upward momentum is most likely to continue. • New crypto ETF applications: Franklin Templeton for spot Bitcoin ETFs and Hashdex for spot Ethereum ETFs. • U.S. CPI data release: 0.6% MoM for headline CPI and 0.3% for core CPI. • TOKEN2049 in Singapore saw 10,000+ attendees, 300 exhibitors and 400+ side events. BGB’s Upward Momentum Is Most Likely To Continue This is the third consecutive green week for BGB with a WoW return of +1.7%, which is only lower than that of BTC (+2.6%). Basic indicators don’t suggest any reversals of trend any time, therefore we can very well expect BGB price to climb up in the next few weeks. XRP prices slided further down, resulting in a US$6.5 billion difference between XRP and BNB’s market cap. Volatility of BGB of course had to go up as a reflection of the uphill momentum. Compared to the Top 5, BGB is way less volatile, i.e. much less risky as an investment, for changes in its price are of smaller degree and, more often than not, go into one single direction of upward sloping. That is a good factor to keep in mind for any investor choosing a long-term crypto asset to hold. The minor decrease in BGB’s weekly volume caused the 7DMA liquidity ratio (volume-to-market cap) to plateau below 0.03 - almost 30 times higher than the bare minimum used by Coinranking to determine ‘first tier’ tokens. This move extends the breakaway of BGB from Top 5’s liquidity trends, and for the better. You can check out our BGB Sail Series to see how impressive BGB monthly performance is: BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition What Are They Talking About At TOKEN2049? Expect some stillness in the next three days as the Fed September meeting is about to take place on September 19 - 20. Markets already enjoyed some gains after the U.S. August CPI data release on September 13, a result of the somewhat-slowing-down core CPI - one key focus of the FED - at 0.3% MoM or 4.3% YoY following July’s 0.2%/4.7% figures. According to FedWatch Tool, the probability of the FED’s holding interest rate in the FOMC stands at 99%. Aside from the macro environment, the crypto community has been having fun at TOKEN2049, the Web3 and crypto conference for the elites, that took place in Singapore from September 13 - 14, 2023. That, again, strengthens Singapore’s position on the frontline of Asian crypto with Hong Kong. The hottest topic discussed during the week is real-world assets (RWA), along with other on-chain assets and stablecoins, all meant to streamline the capital flow from TradFi to crypto. Other discussions revolved around the tech shift from L1 to L2 and ZK, GameFi and regulations. It’s important to note that around 15% of the attendees come from the U.S., meaning the global interest in cryptocurrencies despite any unclarity around regulations in the mentioned and other regions. The Latest Bitget News As a leading voice of the crypto industry, of course Bitget wouldn’t miss TOKEN2049 for the world. Our managing director Gracy Chen took part in a panel discussion about challenges and opportunities for exchanges on September 14 and gave an exclusive interview for CoinGape about how CEXs can operate in a decentralised world. Prior to that, she revealed Bitget’s plan to amp up the regional exchanges, data analytics firms, media organisations and other entities with a US$100 million fund named EmpowerX. Having just celebrated our 5-year anniversary, Bitget already outlines future plans for the expansion of our ecosystem, with EmpowerX being the first step. On top of that, we have the ever-expanding world of Bitget investments, normally known as Bitget Earn. Bitget Earn has just launched two new products, Bitget Snowball and Bitget Wealth Management. While the former is designed to offer explosive yields from the market fluctuations, the latter includes the utilisation of investment bots to provide high-net-worth Bitget users with a steady wealth growth. Don’t forget the Earn festival - exclusively launched to celebrate Bitget’s 5-year anniversary! Staking, the “DeFi” aspect of Bitget Earn, has also launched DOT Staking with an APR of 7.7%! You better check out the notification centre here everyday to keep up with daily new offers from Bitget Earn. Among the top 3 daily gainers, the three ones of the week include SMURFCAT/USDT (+239.1%), VEMP/USDT (+184.1%), WITCH/USDT (+182.4%), MOONEY/USDT (+121.2%) and MAX/USDT (+100.6%). Two Bitget initial listings that made it to the list of daily top three gainers include XRP8/USDT (+33.1%) and BIP1/USDT (+32.3%). Bitget Futures Markets saw an increase of 1.0% for the average crypto OI and 3.3% for the average Bitcoin OI in the last 7 days, meaning Bitcoin dominance on the futures market has been up by 2.3% on average. Bitget Spot Trading’s volume was up by 3%. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events [Bitget turns 5] Deposit $100 and receive a $100 bonus for newcomers! Bitget Builders 5th Anniversary Limited NFT Released: Co-building the Crypto Ecosystem with Bitget, Enjoying exclusive Benefits TRY Marathon: Win a rebate of up to 50% 20,000 USDT! Real Smurf Cat (SMURFCAT) will be listed on Bitget. Come and grab a share of US$15,000 SMURFCAT! MAX Exchange Token(MAX) will be listed on Bitget. Come and grab a share of 80,000 MAX! Shiba Saga (SHIA) will be listed on Bitget. Come and grab a share of 50,000 SHIA ! Wrapped Alvey Chain (WALV) will be listed on Bitget. Come and grab a share of 270,000 WALV ! 0 Fee Get Extra Crypto Bonus with Visa / MasterCard Hot Coin Surprise: Bitget's Mystery Box Madness! Try the auto-invest Portfolio to grab a share of the 30,000 BGB prize pool Good Reads Bitget Wallet - Your Ultimate Gateway Into the Future Elevate Your Assets: Bitget Wealth Management Introduction Major Upgrade to Auto-Invest Bot: Portfolio Set to Begin a New Chapter Unpacking Blockchain: A Non-Technical Primer Ethereum Value and Price (Part 1) Ethereum Value and Price (Part 2) Simply create an account, and start exploring the incredible Bitget-Verse today!