Bitget Bites (November 29, 2022)

The global market cap is standing at US$825.75 billion, showing a 0.94% increase from yesterday but the 24-hour volume went down by 1.60% to US$44.48 billion. Our report on activities of the Spot Market and Futures Market are below:

Spot Market Updates

Bitcoin has been trading between US$16436.54 and US$16065.43 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$16,276.65, which is a 0.62% increase compared to Ethereum's 1.30% increase.

Altcoin prices are dipping in the green, with BNB (+0.14%), XRP (+1.20%), and DOGE (+6.85%) being the 3 altcoins 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$0.1924 and US$0.1867, respectively.

The Top 3 Gainers of The Day are Dogecoin(DOGE) and MASK Vault (MASK):

1st Place/2nd Place

DOGEUSDT/DOGEUSDC: Up by 7.13%/7.09%

Dogecoin is a cryptocurrency based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. DOGE is trading at a current market price of US$0.1019, having touched a high of US$0.1033 and a low of US$0.0906 in the past 24 hours.

3rd Place

MASKUSDT: Up by 6.41%

MASK Vault is an erc-20 vault token representing NFT assets within a NFTX Vault. MASK is trading at a current market price of US$3.0337, having touched a high of US$3.1000 and a low of US$2.7554 in the past 24 hours.

Meanwhile, the Top 3 Losers include GOOUSDT (-80.95%), LEVERUSDT (-20.40%), and TSUKAUSDT (-19.76%).

Futures Market Updates

Futures activities are getting warmed up, with the Open Interest (OI) of all cryptocurrencies now recorded at US$3.76 billion, equivalent to a 3.39% 24-hour increase. The aggregated futures volume saw a 60.69% decrease to US$230 billion.

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$2.50 billion, which shows a 3.89% increase from yesterday. The daily volume of Bitcoin contracts increased by 11.24% to US$178,180.08. Funding rate of the last cycle stands at 0.000%.

Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bearish at 27.24%/72.76%. Most BTC long ETFs locked in a price increase yesterday, but that's not the case for the highly anticipated ProShares' Short Bitcoin Strategy ETF (BITI), which closed the day at US$41.97 from the opening price of US$42.16.

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