Market updates

Bitget Bites (January 6, 2023)

Beginner

2023-01-06 | 5m

The global market cap is standing at US$818 billion, showing a 0.22% decrease from yesterday and the 24-hour volume also went down by 18.50% to US$27.10 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,872.54 and US$16,781.94 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,844.68, which is a 0.10% increase compared to Ethereum's 0.02% decrease.

Altcoin prices are seeing red and green, with no altcoin in the Top 10 trading above the volume of US$1 billion.

The highes t price and lowest price levels of BGB in the last 24 hours were US$0.1923 and US$0.1884, respectively.

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The Top 3 Gainers of The Day are All Sports X (SOC), Stader (SD), and ABBC:

1st Place

SOCUSDT: Up by 7.09%

All Sports X is blockchain dedicated to sports marketing, sports IP NFT asset trading, sports middle-tier infrastructure implementation and game application development. SOC is trading at a current market price of US$0.001335, having touched a high of US$0.001374 and a low of US$0.001155 in the past 24 hours.

2nd Place

SDUSDT: Up by 5.98%

Stader token is the native governance and value accrual token for Stader. SD is trading at a current market price of US$0.485, having touched a high of US$0.5124 and a low of US$0.4083 in the past 24 hours.

3rd Place

ABBCUSDT: Up by 3.68%

ABBC is a blockchain platform that enables secure payment transactions. ABBC is trading at a current market price of US$0.1042, having touched a high of US$0.1073 and a low of US$0.085 in the past 24 hours.

Meanwhile, the Top 3 Losers include BONKUSDT (-48.46%), KUNCIUSDT (-27.58%), and THEUSDT (-13.80%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.59 billion, equivalent to a 7.24% 24-hour decrease. The aggregated futures volume saw a 60.02% increase to US$821 billion.

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Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 66% of the total OI, now standing at US$2.39 billion, which shows a 6.73% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 39.64% to US$123,729.40. Funding rate of the last cycle stands at 0.0000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 54.4%/45.6%. Most BTC long ETFs locked in a price decrease yesterday, same goes for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.07 from the opening price of US$39.19.