Bitget Burns 60M $BGB, Price Up 3% – $6 Next?

Bitget Token ($BGB) is currently trading at $4.62, up 1.6% in the last 24 hours and 3% over the past week.

Trading stayed tight, with a 24-hour range between $4.46 and $4.62, suggesting moderate and controlled volatility as liquidity clustered near recent support. 24-hour volume sits near $161 million on the day, consistent with a cooling of activity versus prior spikes.

$BGB: Powering a $2T Volume Exchange’s On-Chain Shift

$BGB is the utility token of the Bitget exchange and Bitget Wallet, used for trading-fee discounts, Launchpad/Launchpool access, VIP tiers, and other perks.

Following the December 2024 merge of Bitget Wallet’s $BWB into $BGB, it also picked up on-chain roles like multi-chain gas via GetGas and deeper DeFi integrations.

The platform also reported 100 million users during the same period and $2.08 trillion in total trading volume in Q1 2025.

Tokenomics turned decisively deflationary.

Bitget announced the total burn of 800 million $BGB tokens in 2024, reducing supply by 40%. Following the success, Bitget began quarterly burns in 2025, with 30 million $BGB tokens burned in Q1 and 30 million tokens burned in Q2, signaling an ongoing reduction path.

Bitget ties burn amounts to measured usage as it sharpens the link between utility and supply.

According to DeFiLlama, Bitget’s CEX-tracked assets hover around $5.72B, with the launch of its Bitget Swap.

This shows an expanding service option accompanied by on-chain activity adjacent to $BGB’s utility, though $BGB itself is not a TVL protocol.

Over the past year, $BGB has led major CEX tokens, up roughly 350% and outpacing $BNB and $OKB tokens.

When analyzing CEX tokens with the most passive income returns, $BGB performance is incredibly underrated.

Stats recently revealed that over the past year (August 13, 2024 – August 13, 2025), BGB outperformed major CEX tokens like $BNB $MNT and $OKB with a whopping 450% gain in… pic.twitter.com/pkL5zt5QYg

— INC🧊 (@Incncrypto) August 19, 2025

That outperformance sets up the real question: what’s actually driving it?

Behind those numbers is a verifiable burn tied to real on-chain activity, expanding product rails, and a platform-scale frame for the $BGB token with both limited supply and growing touchpoints across the Bitget ecosystem and that of other exchange-token peers.

Bitget Token Breaks Out of Double Bottom, Eyes Measured Move Toward $6.00

Bitget Token ($BGB) is showing early signs of a technical breakout after forming a classic double-bottom structure on the 4-hour chart. The pattern was marked by two lows around $4.30 and a neckline resistance near $5.20, which details a potential reversal after days of consolidation.

An aggressive pump above this neckline could confirm the return of bulls and reactivate the projected target near $6.00, aligning with the pattern’s measured move.

The 20, 50, and 100-period simple moving averages (SMAs) are beginning to converge, a sign that volatility compression may soon give way to directional expansion.

The price of $BGB is just below the 20-SMA ($4.62) after bouncing from the 100-SMA. This is an important dynamic that suggests a battle between short-term recovery attempts and medium-term resistance.

Furthermore, the RSI is climbing steadily and has just breached the 50 mark, a level that often acts as a bullish threshold. Meanwhile, the MACD histogram is tapering off from its recent lows, and the signal line is inching toward a possible bullish crossover—a setup that typically precedes upward follow-through.

The 15-minute volume footprint chart adds further insight into the immediate demand-supply dynamics.

A cluster of high-volume nodes between $4.60 and $4.66 shows significant effort from both buyers and sellers.

However, the most recent delta reads and volume clusters tilt slightly in favor of the bulls, with aggressive buying surfacing toward the upper end of the local range. Still, the lack of sustained bid follow-through on $BGB beyond the $4.67–$4.70 zone hints at near-term resistance that must be overcome.

What its observed here is that $BGB’s bullish reversal structure remains technically valid, but the path to $6.00 clearly hinges on a clean breakout above the $5.20 neckline.

Should volume pick up and momentum sustain above short-term moving averages, this pattern could shift from potential to reality in the sessions ahead.