The Latest on Bitcoin and Cryptocurrencies: December 31

Yigit Taha OZTURK — Tue, 31 Dec 2024 13:00:14 +0000

What’s the Latest in Bitcoin and Popular Altcoins? Will the Uptrend Continue? We’ve analyzed the key support and resistance levels, liquidations, top gainers and losers, upcoming events, and more for you!

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 0.12% in the last 24 hours and is currently trading at $93,833. Bitcoin (BTC) seems to have bounced off the previously identified $92,503 support. If it continues to rise, the key resistance level to watch is $94,703. The support levels are $93,138 and $92,503, respectively.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Ethereum (ETH): The ETH/USDT pair has dropped 0.80% in the last 24 hours and is now trading at $3,386. For ETH, the resistance levels are $3,440 and $3,535, while the support levels stand at $3,290 and $3,217.

Bitget Token (BGB): The BGB/USDT pair has experienced a sharp drop of 15.98% over the last day, now trading at $5.70. Key resistance levels are $6.06 and $6.59, with support zones at $5.51 and $5.07 if the decline deepens.

Stacks (STX): The STX/USDT pair has declined by 0.92% over the past 24 hours and is trading at $1.553. Resistance can be found at $1.556 and $1.587, while the support levels are $1.443 and $1.357.

Celestia (TIA): The TIA/USDT pair has fallen by 1.68% in the last day and is currently trading at $4.76. Resistance zones are $4.95 and $5.18, with support levels at $4.62 and $4.36.

Trending Coins

The top trending coins in the last 24 hours include ai16z (AI16Z), PHNIX (PHNIX), and Virtuals Protocol (VIRTUAL). Among the top gainers are Zerebro (ZEREBRO), AI Rig Complex (ARC), and ai16z (AI16Z). Meanwhile, the top losers are PHALA (PHA), Tokenize Xchange (TKX), and Moca Network (MOCA).

Bitcoin Liquidation Map

Analyzing Bitcoin’s 12-hour liquidation map:

On the upside, the largest visible liquidation stands at $95,268 with $40 million.
On the downside, the key level is $93,364, also with $40 million in liquidations.

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The post The Latest on Bitcoin and Cryptocurrencies: December 31 appeared first on Coin Engineer.

BGB Token Plummeted! Bitget Made an Announcement!

Orhan — Tue, 08 Oct 2024 14:00:29 +0000

Cryptocurrency exchange Bitget announced that it would compensate holders of its local token, Bitget Token (BGB), for losses incurred due to the sudden drop in BGB on Monday. The BGB token experienced a decline of up to 52%.

According to TradingView data, the value of BGB plummeted from $1.14 to $0.54 in just 15 minutes around 5:30 AM. However, it later recovered to $1.04 and is currently trading around $1.06.

While sudden drops like this are not uncommon in the cryptocurrency market, it is often difficult to explain why investors resort to panic selling. Ryan Lee, the chief analyst at Bitget Research, attributed the situation to “general market stagnation” caused by factors such as holidays in Asia and Golden Week.

In a statement on the social media platform X, Bitget announced that all affected holders would be reimbursed for their losses due to the BGB drop. The compensation plan will be announced within 24 hours, and payments will be completed within 72 hours.

What is BGB?

Bitget Token (BGB) is the native token of the Bitget cryptocurrency exchange, offering trading fee discounts, staking opportunities, and other perks on the platform. The token is designed to optimize users’ trading experiences and encourage greater contributions to the Bitget ecosystem.

In the cryptocurrency market, where such sudden crashes occur, Bitget’s swift implementation of a compensation plan is seen as a critical step in maintaining trust in the platform. Despite the BGB dump event, the token’s quick recovery and the measures taken by the exchange are viewed as a positive development for investors.