Bitget’s December surge fuels Bitcoin optimism amidst regulatory anticipation. In early December, Bitget experienced a 20% surge in new registrations, with 89% entering the cryptocurrency space and 61% exclusively opting for Bitcoin. Google Trends reported doubled interest in Bitcoin searches from November 30 to December 6. The week also marked a 23% rise in spot market copy trading on Bitget.
😍🚀 Crypto Exchange Bitget Records 20% Surge in New Users with 89% Buying Bitcoin in December@bitgetglobal witnessed a significant surge in new user registrations, surpassing the entire count for December of the previous year by 20%.#CryptoNews #newshttps://t.co/plOUGs6AF6
— Cryptonews.com (@cryptonews) December 12, 2023
Comparing December 2023 to 2022, cryptocurrency derivatives witnessed a 17% increase in copy trading users. This aligns with industry optimism around potential U.S. exchange-traded funds approval for digital assets, seen as a democratizing force. Analysts predict regulatory approval for cryptocurrency fund managers, possibly next month. This could impact Bitcoin’s upward trajectory.
Key Bitcoin Levels to Watch – December 12
The sell-side liquidity grab below the $25200.00 price level set the market to the upside. This led to a market structure shift that occurred in October 2023, thereby strengthening the optimism of the market participants.
According to the MA Cross, the ongoing uptrend began a few weeks after the market structure shift. The uptrend reached $45000.00 before correcting the discount zone. BTCUSD is likely to resume its uptrend as soon as the bullish order block is reached.
BTC/USD Key Levels
Resistance Levels: $43100.00, $48200.00, $52100.00
Support Levels: $37800.00, $31900.00, $24900.00
BTC Metrics
Total Market Capitalization: $1.58T
Bitcoin Market Capitalization: $819B
Bitcoin Volume: $32.1B
Market Rank: #1
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