BGB Price Drops to $4.4  in 24 Hours – Can Bitget’s New Rebate Program Shift the Momentum?

On April 24, 2025, the Bitget token (BGB) dropped to $4.422, raising holders’ concerns about this short-term outlook amidst shifting market dynamics. But, in a timely move, Bitget, the leading crypto exchange, has announced major upgrades to its liquidity incentive program. It is a strategic Bitget update set to take effect on May 1, 2025. Bitget’s maker rebate program introduces a competitive fee structure, enhanced rewards, and extended support for both spot and future markets. As a positive outlook, investors are hoping that this upcoming Bitget update could reverse the BGB price movement in the near term. 

In this article, let’s analyze the last 24 hours of BGB price movement and find its current market sentiment. 

BGB’s Steep Decline – April 23, 2025

On April 23, 2025, BGB’s trading day began with a short-term rise, demonstrating a bullish sentiment. But at 01:25 UTC, BGB encountered an RSI Overbought situation, indicating a potential trend reversal. Likely, at 01:30 UTC, BGB price movement resisted at $4.662 and experienced a short-term decline. Substantially, at 03:15 UTC, BGB found support at $4.615 and experienced an uptrend. At 05:50 UTC, a pin bar, followed by a full-body red candle, signaled a potential downtrend. Likely, BGB resisted at $4.680 and experienced a sharp decline. A Death Cross on MACD at 06:05 UTC affirmed this downtrend.

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 24, 2025

At 07:20 UTC, BGB encountered an RSI Oversold situation, indicating a potential trend reversal. Likely, at 07:30 UTC, BGB found support at $4.560 and moved in an uptrend. A Golden Cross on MACD at 08:10 UTC affirmed this uptrend. Substantially, at 08:20 UTC, BGB resisted at $4.628 and experienced a short-term fall. At noon UTC, BGB found support at $4.568 and moved up. But at 13:20 UTC, BGB encountered an RSI Overbought situation, indicating a trend reversal. Further, a Death Cross on MACD at 13:25 UTC signaled a possible downtrend. 

Likely, at 13:35 UTC, BGB resisted at $4.641, broke the support at $4.560, and dropped to $4.474. Substantially, at 15:15 UTC, BGB encountered an RSI Oversold situation, indicating a possible downtime. As expected, at 15:30 UTC, BGB found support at $4.474 and entered the phase of the trading range. A Golden Cross on MACD at 15:55 UTC affirmed this uptrend. At 19:00 UTC, BGB resisted at $4.526, experienced a short-term fall, and closed at $4.509.

BGB Dropped to $4.422 – April 24, 2025

As illustrated in Chart 1, on April 24, 2025, the BGB trading day kicked off with a brief rise. At 00:45, BGB resisted at $4.520 and began to fall. But at 04:10 UTC, BGB found support at $4.474, moved up, and reached $4.511. Subsequently, at 07:20 UTC, BGB resisted at $4.511, experienced a sharp fall, broke the support at $4.474, and dropped to $4.422. But at 08:40 UTC, BGB found support at $4.422, experiencing an uptrend. A Golden Cross on MACD at 09:25 UTC affirmed this uptrend.

BGB’s Next Move – Bear or Bull Momentum?

On April 24, 2025, the Bitget token (BGB) experienced a sharp decline, demonstrating a robust bearish sentiment. In a possible scenario, if the support at $4.422 holds strong, the BGB price could bounce back and attempt to break the key resistance at $4.524. In case BGB fails and breaks the support at $4.422, it could experience further decline, suggesting a bearish trend. But in recent Bitget news, the Bitget crypto exchange announced its upcoming Bitget update. This news could drive investors’ confidence and attract institutional interest in Bitget investments.