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Bitget Hot Takes (March 11 - March 17, 2024) - All About Bitget

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 established a new all-time high and topped US$73K before corrections took place. • BGB moved in the same direction as BTC. • Bitget Markets: spot volume slightly decreased while average crypto OI and Bitcoin OI still went up. BGB Closely Mimicked Bitcoin Movements With bulls' eyes on Bitcoin prices regarding spot ETF inflows and Donald Trump's more friendly attitude towards crypto (check out the latest disclosure of his crypto holdings here ), Bitcoin once again recorded another new all-time high at US$73,750. Around the same time, BGB also hit the week's high at US$0.923146 before following Bitcoin's downward momentum as corrections took place. Indicators suggest that corrections are most likely to last for a while, portrayed by a decent difference between 7DMA and 30DMA, price trends moving in the same direction as the MACD, and RSI not yet to reach the oversold. Reflecting the sharp decline in the accumulation trend, BGB 7-day volume rose by 37.1%, totalling US$312 million. A higher level of activities has one positive impact on the market, and that is the improvement of liquidity. BGB is, again, roughly on par with Bitcoin when it comes to the volume-to-market cap ratio. Want to learn more about BGB? Check out our BGB White Paper and BGB Intro and don't miss any new issues of Bitget Hot Takes, which always covers the latest analysis of BGB weekly performance! The Latest Bitget News Want to ape in on Bitcoin and Ethereum before it makes another new all-time high (read here for reasons why we think that would happen)? Bitget has the right deal for you: Starting from March 19, 2024 at 4:00 PM (UTC), all spot transactions for BTC/USDT and ETH/USDT are free of charge! Find out more about this zero-fee campaign for BTC and ETH spot transactions here: Bitget to launch BTC/USDT and ETH/USDT spot trading zero transaction fee promotion. If you want to buy Bitcoin directly with your Debit/Credit Card, that's completely fine. But don't just do it for the sake of owning Bitcoin, take part in our Debit/Credit Card anniversary to win unique rewards from Messi merch, BOME, to 1 BTC! Rewards are guaranteed for all participants! You won't believe this, but there's a way to get free XRP, ADA, BGB, BTC, and other crypto staples! Join Bitget wonderful spin for awesome rewards with 100% guarantee! Hurry up and scoop as much as you can - this event is no longer available after 10:00 AM (UTC) on March 31, 2024. Meanwhile, we should definitely use this bullish sentiment to our advantage, too. Bitcoin prices staying around US$60K-70K gives merchants the needed motivation to accept Bitcoin and cryptocurrencies as payments. Why not simplify it with our brand new Bitget Card? All you need to do is to apply for your very own Bitget Card, send some crypto to the linked Bitget funding account and purchase real-world stuff whenever you want with just a swipe! Check out the Bitget Card Introduction to find out more reasons why you've got to own this powerful card! Bitget spot volume saw a minor decrease last week, while the average crypto OI and Bitcoin OI were on the rise. With Bitcoin topping US$73K, long positions for this asset dominated our derivatives markets, resulting in Bitcoin dominance inching to 47.2%, up 1.8% from last week. Memecoins sure were the talk of the town, especially those on Solana such as BOME. However, the best daily performer of the week was BRETT, whose price went up to as high as US$5 and ended the day at US$0.73862 from a mere US$0.001 on March 15, thereby locking in a 24H change of 73,762%! There are other prominent daily gainers that we want to introduce to you: Aevo (AEVO): Redefining Derivatives Trading for the Decentralized Era ivendPay (IVPAY): Crypto Payments Simplified For All Book of Meme (BOME): Driving Up Activities on Solana BRETT (BRETT): The Most Popular Meme Coin on the Base Blockchain Etherfi (ETHFI): Redefining Ethereum Staking IQ50 (IQ50): A Meme Coin’s View on Crypto Investing New users should definitely check out the great Bitget Reward Center for 5,027 USDT in welcome bonus and up to 50% rebate for Credit/Debit purchases ! In addition, our exclusive deals for Credit/Debit Card Zero-Fee Program are PENG, AEVO, and BRETT - all the familiar names you just see on the Top Daily Gainers summary! 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 RMV with up to 80% APR, NUUM with up to 70% APR, PZP , MANTA , MAPO , SCA , FMB with up to 60% APR, PORTAL , DEPD , DEVVE , NADA , AEVO , ETHFI with up to 50% APR, NESS , REACH , ALVA , IVPAY with up to 40% APR, IQ50 with up to 30% APR and TUSD with up to 15% APR! • 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 • Bitget CandyBomb: Complete given tasks to receive IQ50 , MVL and PUSH FOR FREE! 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 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. Trade BTC and ETH on Bitget today: Bitget Spot Trading | Bitget USDT-M Futures | Bitget Coin-M Futures | Bitget Copy Trade New Events 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! Buy crypto with VND/IDR/MYR/THB/PHP via GEO Pay with 0% fees! Extended! New user exclusive: Buy crypto to get up to a 50% rebate! Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass! Join the Bitget x Devve Community Campaign Now to Claim Your Special $8,500 DEVVE Rewards! Join the Bitget x Scallop Community Campaign Now to Claim Your Special $2,000 SCA Rewards! Complete net deposit and spot trading tasks on CandyBomb to earn NUUM! Complete net deposit and spot trading tasks on CandyBomb to earn REACH! Join the Bitget x MNet Community Campaign Now to Claim Your Special $2,000 NUUM Rewards! Join the Bitget x Alvara Community Campaign Now to Claim Your Special $2,000 ALVA Rewards! 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 (February 26 - March 03, 2024) - All About Bitget

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 • BGB hit US$1 again on the same day BTC made a new ATH. • Bitcoin did not only return to the old ATH November 2021 but aggressively claim US$70K as the new one. • Bitget Markets: average crypto OI, Bitcoin OI and spot volume all went up. BGB Was Back To US$1 As Bitcoin broke its old all-time high on March 05, BGB also followed its movement closely, up to US$0.92 then a lil' correction to US$0.91, back to US$0.95 and straight up to US$1. Towards the end of the week, others in the Top 5 continued to rally when Bitcoin prices were stalled, except for XRP. BGB clearly took some time to breathe out and is currently bouncing back. As a result, BGB 7D volume went up by nearly 20%, which is reflected in the chart below. It's near 0.025 now, and we expect it to get to 0.03 soon, given the building momentum of accumulation trend. Want to learn more about BGB? Check out our BGB White Paper and BGB Intro and don't miss any new issues of Bitget Hot Takes, which always covers the latest analysis of BGB weekly performance! The Latest Bitget News Dragon Year for up-in-the-sky movements? Well yeah, BGB definitely took initiative since the first day of 2024 and eventually breached US$1 this month. We're also proud to invite all users to apply for and try out the brand new Bitget Card! This is the perfect off-ramp solution for any crypto advocates out there, not just Bitget lovers - we'd love to see crypto embraced in our everyday life in the most practical way. Check out the Bitget Card Introduction to know why you've got to own this powerful card! The funding rates on BTC and ETH markets have been on insane levels, with the BTC funding rate on March 05 reaching 0.0878% before sliding down to 0.0411% on March 07. Similarly, it went up to 0.0635% on March 08, then plummeting to 0.0264% on March 09. With BTC currently over US$71K, funding rates stand at 0.0948% - be careful with your (over)leveraged positions! ETH funding rates than slightly lower than those of BTC, but both are at historical highs and for an extended period (since February 25). We are actually more bullish than ever, and US$71K is definitely not this year's goal for BTC! Understandably, the average Bitcoin OI shows a higher level of expansion than the general crypto OI, and we might be able to explain the rise in Bitget spot volume with BTC, ETH, memecoins and BGB, of course. The majority benefits from Bitcoin breaking its own record, but many eyes are on memecoins since they offer quick but meteoric profit-taking opportunities, especially the doggo fam. Memecoins made it to the Top 3 Gainers list almost everyday: MYRO/USDT (+85%) on March 05, AIBB/USDT (+169%) and BABYDRAGON/USDT (+74%) on March 08, BABYBONK/USDT (+75%) on March 09, TAMA/USDT (+177%) and BABYBONK/USDT (+50%) on March 10. Don't want to miss this meme mania? Bitget has the right event for you: Trade to Win PEPE, SHIB, FLOKI, DOGE! There are other prominent daily gainers that we want to introduce to you: WEN (WEN): A Revolutionary Approach to Meme Coins on Solana. Octavia (VIA): Your Ultimate AI-Powered Crypto Assistant Ness LAB (NESS): Pioneering the Future of Blockchain and Information Economy Scallop (SCA): The Most Secure Lending Protocol on Sui DevvE (DEVVE): Solving the Complex Challenges Inherent in Environmental, Social, and Governance with Blockchain New users should definitely check out the great Bitget Reward Center for 5,027 USDT in welcome bonus and learn about minimising costs for efficient crypto investments! Bitget offers 0-fee crypto purchases on Wednesday and the weekend for those who own Credit/Debit cards! It's not just limited to newbies, experts can deliberately join, too! The tokens exclusively added to our Zero-Fee Program are ASTRO, IQ , BBL, $GPT, and PORTAL - all the familiar names you just see on the Top Daily Gainers summary! 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 NUUM with up to 70% APR, HTX , PZP , MANTA , MAPO and SCA with up to 60% APR, BBL , $GPT , PORTAL DEPD , DEVVE with up to 50% APR, TRIAS , WEN , NESS , REACH , ALVA with up to 40% APR and TUSD with up to 15% APR! • 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 • Bitget CandyBomb: Complete given tasks to receive ETH , BBL , $GPT , PORTAL FOR FREE! 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 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! Buy crypto with VND/IDR/MYR/THB/PHP via GEO Pay with 0% fees! Extended! New user exclusive: Buy crypto to get up to a 50% rebate! Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass! Join the Bitget x Devve Community Campaign Now to Claim Your Special $8,500 DEVVE Rewards! Join the Bitget x Scallop Community Campaign Now to Claim Your Special $2,000 SCA Rewards! Complete net deposit and spot trading tasks on CandyBomb to earn NUUM! Complete net deposit and spot trading tasks on CandyBomb to earn REACH! Join the Bitget x MNet Community Campaign Now to Claim Your Special $2,000 NUUM Rewards! Join the Bitget x Alvara Community Campaign Now to Claim Your Special $2,000 ALVA Rewards! 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!