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Bitget Bites (November 04, 2022)

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2022-11-04
Bitget Bites (November 04, 2022)

The global market cap is standing at US$1.008 trillion, showing a 0.01% decrease from yesterday and the 24-hour volume also went down by 23.25% to US$79.27 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$20,383.72 and US$20,038.43 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$20,331.53, which is a 0.06% decrease compared to Ethereum’s 0.39% decrease.

Altcoin prices are seeing green, with BNB (+4.53%), XRP (-0.26%) and DOGE (-10.12%) being the three altcoins in the Top 10 trading above the volume of US$1 billion.

The highest price and lowest price levels of BGB in the last 24 hours were US$0.19440 and US$0.18750, respectively.

Bitget Bites (November 04, 2022) image 0

The Top 3 Gainers of The Day are CyClub (CYCLUB), Yield Guild Games (YGG), and Cydotori (DOTR):

1st Place

CYCLUBUSDT: Up by 82.73%

CyClub is the voice-based social network and live broadcasting hub in Korea. CYCLUB is trading at a current market price of US$0.004486, having touched a high of US$0.004760 and a low of US$0.002430 in the past 24 hours.

2nd Place

YGGUSDT: Up by 24.82%

Yield Guild Games is a Ethereum-based P2E gaming guild. YGG is trading at a current market price of US$0.38124, having touched a high of US$0.42812 and a low of US$0.29843 in the past 24 hours.

3rd Place

DOTRUSDT: Up by 19.64%

DOTR is the medium of exchange in Cyworld Metaverse - the virtual space of Korea's social network service giant. DOTR is trading at a current market price of US$0.005982, having touched a high of US$0.008738 and a low of US$0.004520 in the past 24 hours.

Meanwhile, the Top 2 Losers include GOOUSDT (-80.37%) and HUBUSDT (-15.64%).

Futures Market Updates

Futures activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.85 billion, equivalent to a 3.58% 24-hour decrease. The aggregated futures volume also saw a decrease of 44.68% to US$419.86 billion.

Bitget Bites (November 04, 2022) image 1

Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 67% of the total OI, now standing at US$3.23 billion, which shows a 3.82% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 36.95% to US$132,320.32. 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 62.97%/37.03%. Most BTC long ETFs locked in a price increase yesterday, but that’s not the case for the highly anticipated ProShares’ BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$36.38 from the opening price of US$36.60.

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