Crypto
Bitget Transfers $166M in BTC to Protection Fund Amid Executive Pledge
Bitget has made a significant move to bolster its protection fund by transferring 2000 BTC worth $166 million from cold wallets within two hours. This influx has raised the on-chain balance of Bitget's protection fund to 2484.71 BTC, valued at approximately $206 million.
The executives of Bitget have committed to advancing their one-week pledge to reach a target of $300 million for the protection fund.
Meanwhile, Bitcoin is trading at $83,073.13, below the EMA50 resistance at $84,369.48 with a MACD locked in a death cross at -206.14. The price is testing the upper Bollinger band near $85,035.99 while RSI sits neutral at 43.51.