Bitget Token Price Jumps 12% Defying Market Trend, Can BGB Rally Continue?

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In the past day, the price of Bitget token (BGB) surged by 12%, regaining a position among the top twenty cryptocurrencies, despite a general downturn in the crypto market. Since the start of 2025, BGB has been on an upward trend, increasing by almost 20% over the last week. This growth has occurred amidst market volatility, suggesting investor confidence as trading volume for the token continues to rise.

Will the Bitget Token Price Rally Continue?

Following Donald Trump’s election win in early November, the value of the Bitget token experienced a steep ascent reminiscent of a parabolic curve, accumulating nearly 8 times its original worth within just under two months. But after hitting bottom at $5 support levels, the price of the Bitget token has been steadily climbing upwards since the start of 2025.

A Closer Look Into BGB Price Chart

Today’s rise has propelled the Bitget token to a significant leap beyond the critical barrier of $6.72. Notably, this leap coincides with an impressive 101% increase in daily trading volume, reaching $739 million, implying that the upward trend may persist for a while longer.

Before this recent surge, I managed to push past a resistance trendline at the $6.30 mark on the technical chart for BGB. In the past, similar trendline breaks have sparked substantial rallies for BGB, frequently propelling the token towards unprecedented new peak prices.

Should this trend persist, it’s possible that BGB might reach its old peak of around $8.50, potentially increasing by an additional 20% from its current value of $7.25.

Technical Indicators In Focus

Additionally, other technical signs for Bitget tokens, such as the Moving Average Convergence Divergence (MACD), suggest a positive trend. Specifically, the MACD line crossing above the signal line indicates a potential continuation of rising prices.

From another perspective, the Relative Strength Index (RSI) stands at 75.2, indicating a robust buying surge. Even though it’s nearing the overbought zone, this implies that the market is dominated by buyers for now.

Key Factors Behind the BGB Rally

As a crypto investor, I’ve noticed an exciting surge in the Bitget token price, not just due to the technical breakout but also because of some compelling fundamentals driving the BGB rally. Firstly, securing approval from El Salvador’s Central Reserve Bank as a licensed Bitcoin Service Provider opens up opportunities for fiat-to-Bitcoin exchange services and BTC custody offerings. This strategic move could significantly boost its operations in the region.

Secondly, the recent introduction of the AI Agent trading zone within the Bitget Wallet aligns perfectly with the growing global hype surrounding Artificial Intelligence. This innovative feature is likely to attract more users and contribute to the ongoing positive momentum for Bitget.

One factor contributing to the rally was the destruction of 800 million BGB tokens, decreasing their total number by 40%. The platform has promised to carry out periodic quarterly token burns, thereby diminishing the supply and boosting the token’s worth by making it more scarce.

Additionally, Bitget has disclosed that it will combine the Bitget Wallet Token (BWB) with the BGC token to provide a unified token experience within its ecosystem. Notably, Bitget’s native token, Bitget Token (BGB), is now being integrated across multiple chains, specifically Morph Chain, which increases its functionality and accessibility throughout the blockchain universe.

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2025-01-11 16:30