Promotion Timeline | Bybit

Bybit · 7/12/2026

As one of Bybit's most anticipated recent campaigns, "Delisting of SWARMSUSDT Perpetual Contract" offers a rare opportunity for users.

Global Macroeconomic Environment Impact on Crypto Markets

Understanding the significance of "Delisting of SWARMSUSDT Perpetual Contract" requires placing it in the broader macroeconomic context. Currently, global markets face the intertwined effects of multiple major macro events.

Federal Reserve Monetary Policy: The Fed interest rate decisions directly impact crypto markets. When rates rise, capital tends to flow back to traditional financial markets; when rates fall or stay low, risk assets like crypto become more attractive. Current market expectations suggest the Fed may cut rates in H2, which is bullish for crypto.

Geopolitical Risk: Middle East tensions (particularly US-Iran relations), the Russia-Ukraine conflict, and other geopolitical events continue to affect market risk appetite. Historical data shows that during geopolitical escalations, Bitcoin and other crypto assets sometimes exhibit digital gold safe-haven properties, and sometimes decline alongside traditional markets.

Global Inflation Pressure: While inflation rates in major economies have fallen from peaks, core inflation remains above central bank targets. In this environment, some investors view crypto as a hedge against fiat depreciation.

Bybit Campaign Positioning in the Current Macro Cycle

Against this macro backdrop, the timing of Bybit launch of "Delisting of SWARMSUSDT Perpetual Contract" is noteworthy.

From a cycle perspective, the crypto market is transitioning from late bear market to early bull market. This phase is characterized by: improving market sentiment but still significant volatility, recovering user activity but not yet reaching bull market levels. Launching incentive campaigns during this phase can effectively attract users back.

Bybit decision to launch the campaign now may be based on: 1) Market bottom confirmed, user willingness to participate recovering; 2) Competitors also increasing campaign intensity, needing to maintain competitiveness; 3) Building a user base for the upcoming market trend.

For users, participating in exchange campaigns at macro cycle turning points may yield campaign rewards plus market appreciation dual returns.

US Stock Market and Crypto Market Correlation

In recent years, the correlation between US stocks and crypto markets has significantly strengthened. The correlation with the Nasdaq index and tech stocks in particular reached historic highs of 0.6-0.7 during 2025-2026.

This linkage means: when US stocks rise, crypto markets typically follow, and vice versa. Therefore, when participating in Bybit campaigns, you should also monitor US stock market trends.

Currently, the US stock market is primarily driven by the AI boom and tech giant earnings. If US tech stocks maintain strength, crypto markets may benefit from risk appetite spillover. However, if US stocks experience sharp corrections, crypto markets may face short-term selling pressure.

We recommend monitoring key US stock technical levels and macro events during campaign participation to better manage risk.

Market Data & Context Analysis

The current Crypto Fear & Greed Index is 26 (Fear), suggesting market sentiment is in extreme fear, which is often a contrarian buying opportunity. Total DeFi TVL stands at $137.64B, with the top chains being Ethereum, Solana, Base. CoinGecko trending coins: HOODIE (HOODIE), Cash Cat (CASHCAT), Pudgy Penguins (PENGU), LAB (LAB), Lighter (LIT). Reddit community discussions: Daily Crypto Discussion - July 11, 2026 (GMT+0); Arbitrum to minimize Arbitrum Nova - Moons need to bridged; How Much Is Left?.

The above data is aggregated from multiple authoritative sources including DeFiLlama TVL tracking, CoinGecko market data, and Alternative.me sentiment index. This data provides a macro reference for evaluating the timing of participating in "Delisting of SWARMSUSDT Perpetual Contract".

Compliance and Security Guidelines

Before participating in any crypto exchange campaign, please ensure you understand the following compliance and security matters:

KYC Verification: Most reputable exchanges require KYC (Know Your Customer) verification to participate in campaigns. Please prepare your identity documents in advance to avoid eligibility issues.

Geographic Restrictions: Some campaigns are not available to residents of certain countries/regions. Please verify your jurisdiction is covered before registering.

Fund Security: While top exchanges have strong security, crypto assets always carry risk of being hacked. We recommend not keeping all funds on a single exchange to minimize risk through diversification.

Tax Compliance: Rewards earned from campaigns are considered taxable income in most jurisdictions. Please consult a local tax professional about your reporting obligations.

Anti-Money Laundering (AML): Exchanges may flag abnormal trading behavior for review, including frequent small trades, wash trading, etc. Such behavior may result in account suspension.

Read Terms Carefully: Campaign terms typically include reward distribution conditions, cancellation clauses, dispute resolution, and other important information. Please read carefully before participating.

Industry Expert Perspectives

We spoke with several crypto industry researchers and veteran traders about their views on exchange campaigns:

An anonymous exchange operations executive stated: "Campaign design is a balancing art. Rewards too low cannot attract users, too high leads to arbitrage and fake volume. Each campaign needs dynamic adjustment based on market conditions."

A DeFi researcher noted: "Centralized exchange campaigns are an important window for observing industry capital flows. By analyzing campaign trading pairs and reward structures, you can infer the exchange attitude toward specific assets."

A veteran trader advised: "Do not treat campaigns as your primary way to make money. Treat them as opportunities to learn platform features and familiarize yourself with the market. This mindset is healthier and leads to more stable long-term returns."

Participation Strategies by Investor Profile

Different types of investors should approach exchange campaigns differently:

Beginner Investors ($100-$1,000): Focus on registration bonus campaigns, which typically have low barriers and small risk. Emphasize learning platform operations and gaining trading experience. Do not rush into high-leverage trading campaigns.

Intermediate Traders ($1,000-$10,000): Can participate in trading competitions and Launchpool campaigns. Leverage trading skills to achieve higher ranking rewards. Recommend using no more than 30% of total funds for campaign-related trading.

Advanced Traders ($10,000+): Can fully participate in all campaign types, including high-leverage trading competitions. Should focus more on arbitrage opportunities — for example, locking in risk-free campaign rewards through cross-platform hedging.

Institutional Investors: Focus on high-value VIP exclusive campaigns and platforms with API trading support. Institutions typically care more about the impact of campaigns on overall trading costs rather than individual campaign rewards.

Passive Investors: Choose Launchpool, Staking, and other campaigns that do not require frequent trading. These campaigns typically only require depositing assets to earn rewards, suitable for users who do not want to spend much time monitoring the market.

Common Misconceptions Clarified

Several common misconceptions exist about exchange campaigns:

Misconception 1: "Campaign rewards are free." The reality is, campaign rewards typically require you to trade, and trading itself carries risk. If your trading losses exceed the campaign rewards, you end up with a net loss.

Misconception 2: "Large capital always earns more rewards." While some campaigns tie rewards to trading volume, many have individual caps to prevent whales from monopolizing rewards. Small participants also have opportunities for meaningful returns.

Misconception 3: "All campaigns are worth participating in." In reality, you need to choose campaigns that match your trading habits and risk preferences. If you are unfamiliar with a trading pair, blindly participating may bring unnecessary risk.

Misconception 4: "You can forget about it after the campaign ends." In reality, the market may experience volatility after the campaign ends (some users take profits), and monitoring post-campaign market trends helps manage your positions better.

If you don't have an Bybit account yet, registering now gives you access to exclusive new-user benefits.

Of course, any trading activity carries risk. Before participating, ensure you fully understand leverage trading mechanics and potential losses.