There was a 25% to 50% increase in value for Hyperliquid, the Bitget token, and Movement this week. The three tokens’ gains over the last hour have been extended.
These currencies have managed to cling on to their recent gains despite Bitcoin’s precipitous decline below the $100,000 mark and the market-wide slump in altcoins. According to the technical indications, Hyperliquid (hype41.32%), Bitget Token (bgb16.86%), and Movement (move) are expected The 47.59% movement continues its upward trend.
Bitcoin Drops to $92K Bull Run Eyes $150K-$200K in 2025
Following a sharp decline from the $100,000 mark, Bitcoin’s price fell to $92,232 on Friday. All types of cryptocurrencies saw a reduction in value on Thursday and Friday as a result of Bitcoin’s fall.
Hyperliquid, Bitget token, and Movement all managed to hold on to their gains from the previous week, despite the crypto market’s horrific performance. The current downturn in Bitcoin prices is probably temporary, and on-chain measures are quite bullish for BTC.
Bitcoin’s on-chain signs suggest a cooling or small overheating, but most metrics indicate a substantial upside in 2025; therefore, the bull run is probably nearing its end. It is expected that the cycle top will occur between $150,000 and $200,000. The $100,000 milestone has become a significant level of resistance for Bitcoin.
HYPE Targets $60 BGB Soars 520% to New High
The current price of HYPE is roughly $30. According to DeFiLlama statistics, the decentralized layer-1 blockchain has accumulated locked assets worth a total of $2.191 billion and is specialized in trading.
At $42.252, HYPE is 45 percent behind its all-time high. Layer 1 token price entry into price discovery might lead to a surge towards $60.491, the 4-hour price chart’s 161.8% Fibonacci retracement of the rally from the December 10 low to the December 12 peak.
There is an upward-rising Relative Strength Index of 62. Red histogram bars flare beneath the neutral line on the moving average convergence divergence, a crucial momentum indicator. Traders should remain vigilant, though, because the MACD line is about to surpass the signal line. This change may indicate that the underlying momentum is turning positive.
Between $20.250 and $20.600, there is a fair value gap that could provide support for HYPE. Bitget Coin (BGB) is in direct competition with OKB and BNB, two exchange tokens from OKX and Binance, respectively. The token’s price has increased by more than 520% in the last 12 months, reaching a new all-time high of $4.90 on Thursday.
BGB has made significant progress since December, when it was trading at $1.50, with a monthly gain of nearly 100%.
BGB Overbought MOVE Up 25% with Key Support Levels
The technical indicators for BGB are still in a favorable trend, but investors should exercise caution before increasing their holdings since the RSI is above 70, indicating that the token is now overpriced.
The $3.1370–$3.4125 zone, an FVG on the daily price chart, could provide support for BGB in the event of a drop.
The native coin of the Layer 2 network, which is based on Ethereum to improve scalability and bring enhanced features to consumers, is Movement (MOVE). CoinGecko data shows that MOVE gained almost 25% in the last seven days.
Located on Binance’s 4-hour price chart for the MOVE/USDT pair are two important support and resistance zones: $0.6509–$0.6836 and $0.8891–$0.9038, respectively. Technical indicators support the thesis for future advances in the Layer 2 token MOVE’s price chart.
On December 10, after debuting on Binance, MOVE reached an all-time high of $1.4100. On Wednesday, MOVE began to recover after making the necessary corrections.
HYPE OI Up 75%, BGB Down 33% MOVE Hits $101M
Open interest in HYPE has increased by approximately 75% in the last 24 hours, according to data from Coinglass. Following a week of price increases, the token is beginning to impress market players. Over $42 million is the amount of open interest in Hyperliquid.
Oddly, OI is down 33.38 percent, to $46.85 million, suggesting that traders no longer see value in the BGB coin. With a long/short ratio of 0.8258 (below 1), traders are probably pessimistic about the token’s future value.
There is an overabundance of long positions on Binance and OKX, indicating that derivatives traders are bullish on MOVE. Coinglass data shows that the OI increased by 18% and now exceeds $101 million.
Bitcoin Faces Risk of Downturn Altcoins Vulnerable
There may be one more downturn in store for Bitcoin before 2024 comes to a close if institutional investors cut back on their funding for Bitcoin ETFs. When the price of Bitcoin drops, it usually hurts all types of altcoins and tokens.
When adding to long holdings, traders should use caution. If there is another flash crash or market-wide carnage like the ones that happened on Wednesday and Thursday this week, all of the recent gains in tokens like HYPE, MOVE, and BGB might be lost.
With Bitcoin’s recovery above $97,000 on Friday, altcoin price rallies could continue if the cryptocurrency breaks $100,000.
Final Thoughts
Tokens such as HYPE, BGB, and MOVE have demonstrated resilience by preserving or even increasing their gains, even if Bitcoin has recently fallen below $100,000. Although altcoins may feel the effects of Bitcoin’s short-term slump, technical signs point to a bright future for several tokens, including as HYPE’s possible leap to $60 and BGB’s remarkable 520% yearly increase. Still, it’s wise to proceed with care, since Bitcoin could see more corrections that impact the market as a whole. Keep an eye on the market because if Bitcoin breaks $100,000 in 2025, the price action could pave the way for altcoin growth. Investors should be vigilant.
FAQs
Why is Bitcoin's price important for altcoins like HYPE, MOVE, and BGB?
Bitcoin's price movements typically impact altcoins, with a drop in Bitcoin often leading to declines in altcoin values, as seen in the recent market downturn.
What is the price target for Hyperliquid (HYPE)?
HYPE may surge towards $60, with technical indicators suggesting it is currently on an upward trajectory, despite being 45% below its all-time high.
Should investors be cautious with Bitget Token (BGB)?
Yes, while BGB has seen significant gains, its RSI above 70 signals it may be overpriced, suggesting caution before further investment.
What is the outlook for Movement (MOVE)?
MOVE has gained 25% over the last week, with support levels indicated on its price chart, making it a strong contender for future growth.
