Bitget: Protection Fund Covers Theft Losses

Bitget confirmed its Protection Fund will absorb all losses from the recent hot wallet incident, with the reserve currently holding 5,500 BTC valued near $464 million at prevailing prices.

The fund, seeded from platform reserves since 2022 and expanded in 2023, operates separately from user assets and maintains transparent wallet addresses for on-chain verification, mirroring Binance SAFU in structure.

Bitcoin trades at $84211.1 inside its Bollinger Bands on the 4h chart, with the upper resistance at $87227.98 and lower support at $83102.88; the EMA50 at $82689.16 and EMA200 at $77526.86 anchor the bullish structure while RSI at 51.71 stays neutral and MACD prints a death cross at 434.47, pointing to a likely pullback toward the 50-EMA before any sustained move higher.