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.

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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!

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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!

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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

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