Macro Trends

Gate Research Weekly Report: BTC and ETH are consolidating after a pullback from recent highs; positioning has turned defensive, with flows rotating into steadier altcoin themes such as tokenized commodities/gold, payments, privacy, and DID. Ethereum continues to dominate tokenized commodity issuance with an 85% share. Long-term holders have accelerated distribution, marking Bitcoin’s strongest sell pressure since August. Prediction market volume hit a new all-time high, increasingly acting as an on-chain “expectations pricing layer.” Polymarket is driving a surge in USDC usage, and Mizuho upgraded Circle’s rating while highlighting its growth optionality. SUI is set to unlock roughly $60.94 million worth of tokens over the next 7 days, representing 11% of circulating supply.

After gold broke through the $5,000 mark, the liquidity constraints of traditional physical gold and paper gold have become more pronounced. This article offers an in-depth analysis of the asset mapping mechanisms behind tokenized gold (such as XAUt), detailing how these instruments facilitate cross-system transfers, asset portfolio integration, and on-chain payments while preserving full physical gold backing. It further examines the fundamental logic and long-term impact of gold’s transition from a safe-haven asset to “digital physical gold” and its potential role as a future currency.

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.

Gate Research Daily Report: On Feb 2, crypto markets broadly fell as pullbacks in stocks and gold/silver weighed on risk appetite, with the Fear & Greed Index dropping to 14—its lowest level this year. BTC is consolidating near the lows after a capitulation wick, with $75K as key support and $80K as major resistance; ETH underperformed, with $2,200 as the critical line—if it breaks, downside targets shift to $2,150 and $2,000. Despite the weak tape, POKT, LMTS, and AVA outperformed on their respective catalysts. Key narratives included prediction markets posting a record $12B+ in January volume, the AI-agent narrative spilling into Clanker and boosting token launches/trading activity, and renewed risk debate in the meme sector after Murad’s reported ~$58M six-month drawdown.

Tether CEO Paolo Ardoino is capitalizing on the substantial profits generated by Tether’s stablecoin operations to accumulate physical gold on a massive scale, making Tether one of the largest gold holders globally outside of central banks. This article offers an in-depth examination of Tether’s strategy for converting stablecoin revenue into gold reserves, acquiring shares in concession companies, and expanding its gold-backed token XAUT, highlighting the company’s strategic positioning in macro-finance and currency competition.

Gate Research Daily Report: After a round of heavy selling, Bitcoin fell by around 20% over a two-week period. Ethereum has broken below USD 2,400, with the market structure turning bearish. Tweets related to C98 triggered retail FOMO, pushing the token up 37.03%, while PURR broke above the 23.6% Fibonacci retracement level and gained 28.37%. JPMorgan expects Warsh to accommodate Trump’s push for rate cuts in the short term before reverting to a more hawkish stance after the midterm elections; retail pessimism has entered extreme territory, raising the possibility of a technical rebound; and Cboe plans to relaunch binary options trading to compete directly with prediction markets.

The article clarifies the transition of funds from gold to crude oil, examines how liquidity crises and renewed tightening expectations from the Federal Reserve are weighing on gold prices, and provides practical guidance for prioritizing energy assets over gold in prolonged market scenarios.

BTC traded within the $68,916.4–$71,401.7 range over the past 24 hours, while ETH moved upward within the $2,103–$2,175 range. POOL, ETN, and XNY rose 44%, 30%, and 21% respectively, driven by protocol updates, expanding use cases, and market narratives. Solana Foundation launched the AI-era developer platform SDP; Tether has engaged a Big Four firm for its first full audit; and Commodity Futures Trading Commission established an innovation task force to create clearer regulatory frameworks for the U.S. derivatives market.

Over the past week, global markets shifted into a risk off environment, driven by hawkish expectations from the Federal Reserve and ongoing geopolitical tensions. Rising Treasury yields pressured the valuation of risk assets, while gold and silver corrected by more than 10 percent after their previous surge. The crypto market weakened in tandem, with BTC falling below $70,000. At the same time, crude oil remained resilient amid expectations of potential supply disruptions, and energy factors continued to influence the inflation trajectory. On the liquidity side, both BTC and ETH ETFs recorded net outflows, indicating a slowdown in short term incremental capital. However, overall AUM remained elevated, suggesting that long term allocation capital has not exited. On chain, DEX liquidity continued to concentrate in leading and high efficiency protocols, with Meteora rising rapidly and reshaping the trading landscape. Marginal stablecoin growth increasingly came from protocol native assets, while DeFi credit dema

Gate Research Daily Report: 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 mo

This article goes beyond reporting a single event. It offers an in-depth analysis, situating Walsh’s appointment as Federal Reserve Chair within a 15-year macroeconomic narrative that encompasses monetary experiments, soaring U.S. Treasury debt, and Trump-era political dynamics. The piece examines Walsh’s personal career, family background, and his position within Trump’s power network. It dissects the policy combination of rate cuts and balance sheet reduction—an approach that appears contradictory but is tailored for a high-debt environment. Step by step, the article unpacks the substance of Walsh’s policy strategy and pinpoints the true obstacles constraining his decisions.

This article goes beyond traditional single-asset analysis, focusing on the new paradigm of asset MEME-ification. It provides an in-depth look at the AI-driven structural transformation in global assets, highlighting the move from fundamentals-based cycles to highly compressed periods governed by sweeping narratives.

Gate Research Weekly Report: BTC broke below $73,000 as deleveraging continued, with total liquidations reaching $2.56 billion over recent days; ETH pulled back to the key $2,000 support level, while a deeply negative premium index signals weakening institutional demand. Stablecoin market capitalization edged lower, and Ethereum gas fees remained subdued. Amid a structurally weak market, select assets moved counter-trend, including the BNB Chain Chinese meme coin “我踏马来了,” WMTX driven by the DePIN narrative, and SYN supported by adoption within the Filecoin ecosystem. On the event front, Ripple Prime integrated Hyperliquid, introducing a prime-brokerage model to on-chain derivatives, while Bitnomial launched regulated XTZ futures. On-chain data show a renewed convergence between profitable and unprofitable BTC supply, a historical “bottom signal” that may point BTC toward the $60,000 range, with key support at the 2021 peak near $69,000. Vitalik Buterin reassessed the L2 roadmap, emphasizing differentiated val

The article precisely analyzes the duality of "negative Rho Bitcoin" vs "positive Rho Bitcoin" and distinguishes the essential difference between benign deflation and malignant deflation.

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.