The Bitget Token (BGB) is grabbing attention as its price surged 12% in the past 24 hours, defying a broader crypto market downtrend. With a bullish breakout above $6.72, supported by a massive 101% increase in trading volumes, BGB has reclaimed its position among the top-20 cryptocurrencies.
Key Highlights
- 12% Surge: BGB price rises sharply, solidifying its top-20 crypto position.
- Technical Breakout: Price surpasses $6.72 resistance amid surging daily trading volume of $739 million.
- Utility Expansion: Cross-chain integration with Morph Chain enhances BGB’s usability.
BGB’s Upward Momentum: A Closer Look
Despite the volatile market, Bitget Token has been on a steady climb since early 2025, gaining nearly 20% over the past week. The recent price jump marks a strong recovery from its $5 support level.
Breakout Above $6.72
The rally was fueled by a crucial breakout past $6.72, a significant resistance level. Historically, such breakouts have led to notable rallies in BGB, often pushing it to new all-time highs. With the current price at $7.25, the token could soon target its previous all-time high of $8.50, representing a potential 20% upside.
Technical Indicators Signal Bullish Momentum
- MACD: The Moving Average Convergence Divergence (MACD) indicator shows bullish momentum, with the MACD line crossing above the signal line.
- RSI: The Relative Strength Index (RSI) sits at 75.2, indicating strong buying pressure. While nearing overbought levels, it reflects sustained buyer control.
Key Drivers Behind the Rally
Regulatory Approval and Utility Expansion
- Bitget Exchange secured approval from El Salvador’s Central Reserve Bank to operate as a licensed Bitcoin Service Provider. This enables fiat-to-Bitcoin exchange services and BTC custody offerings, enhancing trust and adoption.
- Integration of BGB onto the Morph Chain boosts its utility across the blockchain ecosystem.
Token Supply Reduction
The recent burn of 800 million BGB tokens reduced the total supply by 40%, creating scarcity and driving up the token’s value. Bitget has pledged to conduct regular token burns, further supporting its price growth.
Innovative Features
- The launch of the AI Agent trading zone in the Bitget Wallet aligns with global AI adoption trends.
- Merger of the Bitget Wallet Token (BWB) with the BGB token simplifies and strengthens the ecosystem.
Outlook: Can BGB Sustain the Momentum?
With strong technicals, expanding utility, and a reduced token supply, the Bitget Token is poised for further growth. If the bullish trend continues, BGB could soon retest its all-time high of $8.50 and beyond.
Investors and enthusiasts will be closely watching the token’s performance in the coming days as it continues to defy the broader market’s bearish sentiment.
