Bitget Token (BGB) has been on an impressive rally, setting new all-time highs (ATHs) almost daily throughout the past month. 

However, recent indicators suggest that this bullish momentum may be cooling off, potentially leading to increased selling pressure as investors reassess their positions.  

Bitget Token May Face Selling

The Price DAA Divergence indicator is flashing its first sell signal in four months, raising concerns about the sustainability of BGB’s rally. This signal has emerged due to a noticeable decline in investor participation, with many opting to step back and observe how the market behaves around the new year.  

This pullback in participation could dampen BGB’s ability to sustain its upward momentum. While investor caution is understandable after such significant gains, it also leaves the token more susceptible to short-term corrections, especially if broader market trends turn bearish.  

BGB’s macro momentum is being influenced by its negative correlation with Bitcoin, currently standing at -0.16. This inverse relationship means BGB’s price trajectory is moving opposite to Bitcoin’s, a trend that could be concerning if BTC’s price rises further.  

Historically, BGB has demonstrated strong recoveries whenever its correlation with Bitcoin improves following a low. While the negative correlation poses a short-term challenge, it also provides an opportunity for BGB to decouple and carve its path based on unique market conditions.  

BGB Price Prediction: Going Back to The ATH

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Author: Aaryamann Shrivastava