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Bitget Bites (January 5, 2023)

Bitget Bites (January 5, 2023)

The global market cap is standing at US$820 billion, showing a 0.28% increase from yesterday and the 24-hour volume also went up by 13.10% to US$33.24 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16,972.97 and US$16,791.68 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,829.59, which is a 0.18% increase compared to Ethereum's 0.54% increase.

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$0.1938 and US$0.1840, respectively.

Bitget Bites (January 5, 2023) image 0

The Top 3 Gainers of The Day are Napoli Fan Token (NAP), Arsenal Fan Token (AFC), and The Inter Milan Fan Token (INTER):

1st Place

NAPUSDT: Up by 143.78%

Napoli Fan Token is the official fan token of SSC Napoli - an Italy-based football club. NAP is trading at a current market price of US$7.2239, having touched a high of US$7.4 and a low of US$2.9511 in the past 24 hours.

2nd Place

AFCUSDT: Up by 33.06%

Arsenal Fan Token is the official fan token of Arsenal FC-- the London-based football club, also known as the "The Gunners". AFC is trading at a current market price of US$2.8096, having touched a high of US$2.8698 and a low of US$2.1 in the past 24 hours.

3rd Place

INTERUSDT: Up by 24.48%

The Inter Milan Fan Token is a cryptocurrency developed particularly for the fans of Inter Milan club. INTER is trading at a current market price of US$2.68, having touched a high of US$2.9144 and a low of US$2.1019 in the past 24 hours.

Meanwhile, the Top 3 Losers include THEUSDT (-16.15%), SKEBUSDT (-13.97%), and AFKUSDT (-11.20%).

Futures Market Updates

Future activities are warming up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.87 billion, equivalent to a 6.65% 24-hour decrease. The aggregated futures volume saw a 100.26% increase to US$513 billion.

Bitget Bites (January 5, 2023) image 1

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$2.56 billion, which shows a 7.17% decrease from yesterday. The daily volume of Bitcoin contracts increased by 15.48% to US$204,980.28. 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 50.17%/49.83%. Most BTC long ETFs locked in a price increase yesterday, same goes for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$39.22 from the opening price of US$39.20.

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