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Gate Research Daily Report: Gate Research Daily Report: On February 6, BTC stabilized and rebounded after a rapid sell-off that pushed prices down to around USD 60,000, and is now consolidating above the USD 64,000 level; ETH followed the broader market decline, briefly dipping to around USD 1,745 before quickly recovering; GT formed a short-term low near USD 6.23 after a deep pullback and is currently in an oversold rebound phase with a low-level consolidation structure; ZEUS became the market focus with a gain of 89.29%. Crypto ETFs continued to see net outflows, reflecting a clear decline in institutional risk appetite; the sharp drop in Bitcoin prices led Strategy to report a USD 12.4 billion loss in Q4; meanwhile, Tether invested USD 150 million to acquire a stake in Gold.com, accelerating its expansion into tokenized gold.

Gate Research Weekly Report: BTC broke below $73,000 as deleveraging continued, pushing total liquidations to $2.56 billion; ETH retreated to the $2,000 support level, with weakening institutional demand, a modest contraction in stablecoin supply, and persistently low gas fees. Despite the broader market weakness, select meme, DePIN, and cross-chain tokens moved counter-trend. The official World Mobile Chain account released a statement, and WMTX rose 15.79% within 24 hours. Ripple Prime integrated Hyperliquid, introducing a prime brokerage model to on-chain derivatives, while Bitnomial launched regulated XTZ futures. On-chain indicators have again flashed a potential cyclical bottom signal, suggesting BTC could gravitate toward the $60,000 range; meanwhile, Vitalik Buterin revisited the L2 roadmap, and Tether continued to post solid operating performance despite valuation concerns. Markets will next focus on upcoming token unlock risks for HYPE, BERA, and ENA.

On February 4, the crypto market continued to face broad pullback pressure, with major assets generally trading under strain. On the thematic side, capital remained concentrated in high-beta plays tied to AI and onchain infrastructure narratives. ARC rallied strongly on renewed attention around the “Rig” framework for AI builders, ALCH gained momentum on the back of AI workflow and agent tooling infrastructure themes, while ENSO drew interest for its cross-chain execution abstraction and one-stop DeFi execution layer concept. At the macro and industry level, the Puell Multiple has entered a historical discount zone, signaling increased miner stress but gradually improving long-term accumulation value. Gate Ventures announced a strategic investment in the crypto payment network Mesh, strengthening its positioning in stablecoin and payment connectivity infrastructure. Meanwhile, Vitalik reiterated that Ethereum L2s should shift away from the original “brand sharding” vision toward more differentiated functional

Over the past week, BTC's trend has shifted from a consolidation phase to a bearish-dominated structure. ETH has underperformed BTC, forming a pattern of accelerated downside followed by sideways consolidation at lower levels. This indicates cautious bottom-fishing capital, with limited appetite for chasing rallies. STABLE has gained approximately 32.56% over the past seven days, making it the standout performer.

This report examines the expansion path of prediction markets from crypto-native origins to mainstream distribution, using the compliant platform Kalshi and its brokerage distribution model as a case study. It highlights that regulatory licensing and distribution access are becoming the core variables determining scale: once event options are embedded into brokerage account systems, trading barriers are significantly reduced, and platform growth becomes closely tied to channel efficiency.

Gate Research: On Feb 2, crypto markets pulled back amid a broad sell-off in stocks and gold/silver, as risk appetite continued to deteriorate. BTC traced a “sharp drop → capitulation wick → weak rebound → low-range consolidation” pattern; ETH underperformed sharply with $2,200 as the key near-term line; and GT entered a relief-rebound phase but remains capped by its MA30. In pockets of strength, POKT surged on deflationary tokenomics upgrades and partnership catalysts, Limitless (LMTS)rallied on buybacks/burns and a volume milestone, and AVAAI (AVA) gained on AI-agent narrative and ecosystem expectations. On the news front, prediction markets posted a record $12B+ in January volume; Moltbook sparked an AI-agents social wave that spilled into Clanker on Base via booming token launches and trading activity. Meanwhile, the meme sector slid further, with meme KOL Murad reportedly down about $58M over the past six months, reigniting risk discussions.On Feb 2, crypto markets pulled back amid a broad sell-off in st

Gate Research Daily Report: On January 30, the crypto market came under broad pressure, with Bitcoin falling below $82,000 and briefly dipping to around $81,000, while Ether retreated to the $2,700 level and remained technically weak. GT declined in tandem but showed relatively resilient downside, consolidating around the $9.20–$9.30 support zone. Despite weakness in major assets, selective capital rotation persisted, with small-cap tokens such as SENT and GWEI posting strong gains driven by AI and Ethereum infrastructure narratives. Meanwhile, a tech-led selloff fueled a cross-market risk-off move, alongside notable industry developments including Bit Digital’s exit from Bitcoin mining and the revival of The DAO with a $220 million Ethereum security fund.

On January 28, the crypto market saw a brief relief rebound, with broad-based gains and capital rotating back into core assets and large-cap majors. On the thematic side, mid- and small-cap tokens such as PIPPIN, BNKR, and XRD rallied strongly on agent narratives and expectations around product/tooling updates, with flows clearly concentrating into higher-beta names. Meanwhile, Tether launched its USAT dollar stablecoin as part of a two-track approach combining regulatory segmentation and distribution expansion; Kite released a mainnet roadmap centered on agent-native trust and pay-per-call payments; and Polygon continued to lead x402 agentic payment transactions, while Base activity has weakened for eight consecutive days.

Last week, BTC showed a weak consolidation pattern after a failed rebound on the 4-hour chart. The market saw a volume-driven decline followed by a low-volume rebound, indicating that the current bounce is more of a technical correction rather than a trend reversal. ETH's price action mirrors BTC's, but it is noticeably weaker. The structure remains a weak rebound within a bearish trend. On-chain capital flows are showing clear signs of defensive rebalancing. Ethereum net inflows have approached $350 million. Hyperliquid and StarkNet saw net outflows of over $200 million and $167 million, respectively. In the prediction market, industry competition is being reshaped by a "points + zero-fee" strategy.

On January 26, major crypto assets came under broad pressure as market risk appetite continued to contract. After an emotion-driven sell-off, BTC found support around $86,000 but remains below its medium-term moving averages, while ETH broke below its previous consolidation range, with volatility expanding noticeably. The Fear & Greed Index fell to 20, indicating the market is in an extreme fear zone. Meanwhile, mid- and small-cap tokens such as TAIKO, AUCTION, and BOB moved higher against the trend, driven by factors including technical upgrades, capital rotation, and supply constraints, highlighting localized sector rotation. On the narrative front, the SocialFi thesis is rapidly unwinding, with social tokens broadly down more than 90%; BTC payments are seeing accelerated offline adoption in Las Vegas; and while on-chain stablecoin settlement volumes continue to grow, their share of real-world payments remains relatively small.

Gate Research Daily Report: On January 23, BTC rebounded after a sharp sell-off that previously pushed it down to around $87,000, and is now consolidating within the $89,300–$89,900 range; ETH staged a technical rebound after falling to around $2,866, but retreated after facing resistance near $3,000 and is now moving sideways between $2,930–$2,980; GT, after rebounding from lower levels, is capped by resistance near $10.10 and continues to trade in a weak consolidation pattern; XRD led small-cap tokens with a surge of +60.19%. Meanwhile, South Korean authorities reported that BTC under custody may have been stolen in a phishing attack, involving around $47 million; Citi warned that the recent surge in Ethereum on-chain activity is likely driven mainly by “address poisoning” scams; and World Liberty Financial’s partnership with Spacecoin to launch the USD1 satellite DeFi project has drawn market attention.

Gate Research: BTC and ETH are consolidating at lower levels after the pullback, with downside technical pressure easing in the short term, though a clear trend reversal has yet to be confirmed. Risk appetite remains cautious: on-chain data shows whales continuing to accumulate, while sentiment indicators stay in the extreme fear zone—suggesting improving positioning but incomplete confidence recovery. Meanwhile, Ondo is bringing tokenized stocks and ETFs to Solana, further expanding RWA and on-chain securities use cases and strengthening blockchains’ capacity to host traditional financial assets. In parallel, Solayer has launched a USD 35 million ecosystem fund focused on high-performance on-chain applications, supporting both infrastructure and application layers.

In 2025, the total cryptocurrency market cap showed a clear “decline—rebound—pullback” pattern. On-chain perpetual contract trading continued to expand, with liquidity and trading experience noticeably improving. Prediction market volumes surpassed $10 billion, and the growth of crypto payments accelerated the adoption of stablecoins in real-world scenarios. The Web3 sector completed nearly 1,000 financings totaling about $34.9 billion. Although the number of Web3 security incidents declined, individual losses increased significantly. Looking ahead to 2026, Bitcoin’s holdings are increasingly concentrated among large institutions and custodians, helping to enhance overall market stability.

On January 21, the crypto market continued to pull back and consolidate, with risk appetite cooling notably. BTC and ETH came under simultaneous pressure: BTC fell back to around USD 89,000 after breaking below its short-term moving average structure, while ETH saw a relatively larger decline and remains in a weak recovery phase, with major assets dragging on the overall index. On the thematic side, mid- and small-cap tokens such as AIA, MBG, and ARC moved against the trend, supported by narratives around AI agents, on-chain integration of traditional finance, and developer tools, highlighting clear structural divergence. From a structural perspective, Ethereum staking demand continued to improve, with unstaking pressure fading and the staked ratio approaching 30%; meanwhile, Solana’s staking ratio climbed to a record high of 68.8%, indicating that parts of the public-chain ecosystem are still attracting long-term capital. However, whether the broader market can stabilize will still depend on sentiment recove

Last week, BTC moved into a high-level consolidation phase after the previous sharp rally, but the market structure has not flipped bearish. ETH showed greater resilience than BTC, holding up better during pullbacks. On-chain flows clearly reflect a "trading-scenario-first" trend. Capital is rotating out of low-velocity, general settlement layers and into networks with higher trading efficiency and stronger support for active strategies. Perp DEXs and prediction markets have become the main liquidity magnets in this cycle. Both Hyperliquid and Polygon PoS recorded net inflows of over $100 million. Meme activity across the Solana ecosystem is also picking up again. Bags App has risen quickly on the back of its "donation-driven" mechanic, amplifying FOMO and viral growth dynamics.