Bitcoin News Update: Bitget’s PoolX Connects Conventional Finance and Blockchain Through BAY Rewards

Bitget has introduced PoolX, a VIP-only program that enables users to lock

(BTC) in exchange for access to 1.32 million BAY tokens, the platform’s native asset, as reported by a . The initiative, which began on November 4, permits participants to lock up to 20 BTC, with the locking phase ending at 18:00 (UTC+8) on November 8. According to Lookonchain, users who subscribe with BTC and maintain a net positive deposit during the event are also eligible for a 5% BTC wealth management interest coupon. The net deposit period for this campaign closes at 16:00 (UTC+8) on November 6, creating a limited window for participation.

Separately, Bitget has added BGBTC—a synthetic Bitcoin asset—as a margin currency in its unified trading account and multi-asset mode for USDT-M Futures, effective November 3 (UTC+8), as detailed in a

. This enhancement broadens the platform’s options for traders interested in diversified crypto derivatives exposure. Bitget stated that including BGBTC is part of a larger strategy to improve liquidity and flexibility for high-net-worth clients, especially as institutional interest in structured products rises following the FOMC meeting.

Wider trends in the crypto market have been influenced by macroeconomic shifts, such as the Federal Reserve’s recent 25 basis point rate reduction, which lowered the benchmark rate to 4%, according to

. Experts believe Bitcoin could dip toward $110,000 to complete a technical correction before potentially resuming its upward momentum, depending on macroeconomic stability and ongoing institutional investment. At present, Bitcoin is trading near $109,454, reflecting a mix of optimism and caution amid ongoing geopolitical and regulatory challenges, as highlighted by .

The PoolX initiative highlights Bitget’s commitment to boosting user engagement through innovative tokenomics. By linking BTC locking with BAY token rewards, the exchange seeks to drive participation and strengthen its native token ecosystem. The projected annual percentage rate (APR) of over 10% for locked assets is consistent with the broader DeFi trend of yield-generating products, according to Bitget. Nevertheless, users are encouraged to thoroughly assess risks, as cryptocurrency markets remain volatile and subject to regulatory uncertainties.

The debut of PoolX and the rollout of BGBTC come at a time of intensifying competition in the crypto derivatives market. As trading platforms compete for users, advancements in margin trading and token utility are becoming key factors. Bitget’s recent developments also mirror industry-wide efforts to connect traditional finance with blockchain innovations, especially as central bank digital currencies (CBDCs) and AI-powered trading solutions gain momentum, as noted by MarketScreener.