Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
MAGIC +1046.91% in 24 Hours Amid Sharp Short-Term Gains

MAGIC +1046.91% in 24 Hours Amid Sharp Short-Term Gains

ainvest2025/08/30 08:18
By:CryptoPulse Alert

- MAGIC surged 1046.91% in 24 hours, 5691.23% in 30 days, but fell 4727.66% over one year, highlighting extreme short-term volatility. - The rally was driven by algorithmic momentum and speculative trading, with no official catalysts or fundamental improvements reported. - A backtested strategy (buy after ≥5% daily gains, hold 5 days) showed marginal 1.8% returns but poor risk-adjusted performance (Sharpe ratio 0.10). - Analysts suggest refining entry/exit triggers or extending holding periods to improve t

On AUG 30 2025, MAGIC rose by 1046.91% within 24 hours to reach $0.2212, MAGIC rose by 786.3% within 7 days, rose by 5691.23% within 1 month, and dropped by 4727.66% within 1 year.

MAGIC experienced an extraordinary 24-hour surge, climbing more than 10 times in value to settle at $0.2212. This dramatic increase followed a sustained rally over the prior 30 days, during which the token gained more than 56 times. The 7-day performance also stood out, with a 786.3% increase, highlighting the token’s sharp short-term momentum. However, the broader one-year performance shows a steep decline of 4727.66%, underscoring the high volatility and long-term risk associated with the asset.

The recent rise in MAGIC appears to be driven by sharp momentum rather than fundamental developments or broader sector trends. Analysts project that traders may be responding to algorithmic signals or speculative flows, but no official reports or partnerships were cited as catalysts in the provided data. The absence of external media attribution or geographic region references suggests a largely technical and market-driven narrative.

Backtest Hypothesis

The technical behavior of MAGIC in recent days aligns with a strategy tested using historical data. The backtest, covering the period from 03 Jan 2022 to 29 Aug 2025, evaluated a simple event-driven approach: “Buy after a ≥5% daily surge, hold for five days.” The results showed a total return of approximately 1.8%, with an annualized return of 0.95%. The strategy faced a maximum drawdown of around 14.6%, and the average trade yield was a modest 0.17%, with winning trades averaging 2.66% and losing trades averaging –2.63%. The low Sharpe ratio of 0.10 indicates poor risk-adjusted returns.

Given the recent sharp move in MAGIC, the tested strategy appears marginally effective in capturing short-term volatility but underperforms in delivering consistent returns. The results suggest that refining entry and exit triggers—such as using stricter filters or longer holding periods—might improve the risk-return profile for future trading.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Ethereum News Today: Ethereum's Rise Puzzles XRP Investors as Portfolios Diversify

- Arrington XRP Capital's acquisition of an unnamed entity has sparked debate among XRP holders about portfolio diversification and market strategy shifts. - Ethereum's proof-of-stake transition and institutional adoption are driving its market growth, challenging XRP's position in the crypto ecosystem. - Regulatory uncertainty and scalability challenges persist for both Ethereum and XRP, complicating long-term adoption and investment decisions. - The acquisition highlights industry trends toward portfolio

ainvest2025/08/30 14:18
Ethereum News Today: Ethereum's Rise Puzzles XRP Investors as Portfolios Diversify

"Service-Driven Storm: Why Inflation's Next Peak Defies Traditional Fixes"

- U.S. core PCE inflation is projected to peak at 2.9% in July 2025, driven by supply chain strains, rising service-sector costs, and wage inflation. - The Federal Reserve signals potential rate hikes in Q3 2025 but remains cautious to avoid over-tightening amid persistent demand and geopolitical energy shocks. - Services-driven inflation complicates policy responses, with wage growth and structural economic shifts sustaining pressure despite goods-sector moderation. - Emerging markets face heightened fina

ainvest2025/08/30 14:18
"Service-Driven Storm: Why Inflation's Next Peak Defies Traditional Fixes"

Why the 21Shares SEI ETF Filing Failed to Spark Bullish Momentum in SEI’s Price

- 21Shares' SEI ETF filing briefly boosted SEI's price to $0.31 but failed to sustain bullish momentum amid altcoin market weakness. - Structural bearishness, macroeconomic headwinds, and SEC regulatory uncertainty limited the ETF's impact on SEI's fundamentals. - Staking pauses and reduced open interest highlighted institutional caution, while competitive ETF filings diluted market exclusivity. - Altcoin markets remain vulnerable to volatility as regulatory clarity and macroeconomic signals determine long

ainvest2025/08/30 14:15
Why the 21Shares SEI ETF Filing Failed to Spark Bullish Momentum in SEI’s Price

Bitcoin's Critical Support Levels and Market Reversal Potential Amid $530M in Liquidations

- Bitcoin's August 2025 price swing hit $530M in liquidations, testing critical support levels at $109,700 and $112,000 amid technical-macroeconomic tensions. - Mixed indicators show RSI divergence and whale dumping ($2.7B) exacerbating selloffs, while 90% historical win rate suggests potential rebounds after support breaks. - Fed policy uncertainty and ETF inflows ($219M/week) contrast with short-term outflows, highlighting crypto's growing correlation with broader market sentiment. - Institutional buying

ainvest2025/08/30 14:15
Bitcoin's Critical Support Levels and Market Reversal Potential Amid $530M in Liquidations