GateResearch

Cryptocurrency Asset Panorama
BTC (-0.01% | Current price 95,251 USDT)
BTC in the past 24 hours surged to around 97,900 USD in the previous wave before entering a high-level pullback and consolidation phase. The price center of gravity has gradually shifted downward, currently oscillating slightly around the 95,000–95,500 USD range. From an overall structural perspective, this is a technical correction and digestion phase following a rapid upward movement, with no obvious trend-breaking signals. In terms of moving averages, the short-term MA5 and MA10 have crossed below and are suppressing the price, while the MA30 remains near 96,100 USD, exerting clear resistance to the rebound, indicating that the short-term rhythm remains weak and consolidative. Regarding trading volume, there was a significant increase during the upward phase, while volume gradually contracted during the pullback, which is typical profit-taking at high levels rather than panic selling. The short-term focus below is on 9

Gate 2025 Spot Market New Listings: 447 assets. After launch, several key time points show clear market feedback: approximately 54.8% of assets experienced price increases within 24 hours, with an average 24-hour gain of about 635%. Breakdown by type indicates that early-stage projects tend to generate higher median returns (12.56% in 24 hours, with an outlier removal of 8.03%), significantly higher than non-early projects (1.18% in 24 hours, with an outlier removal of 0.86%). Exclusive projects show more concentrated early performance, with nearly 80% experiencing gains within the first 30 minutes of opening, and a median increase of about 81%.

Summary
Vibe Coding is a programming practice that primarily takes natural language intent as input, with an AI system automatically generating system-level code structures, and uses rapid trial-and-error and result usability as the main validation standards.
Existing research generally indicates that AI programming tools can significantly improve code generation speed, task completion time, and developer subjective satisfaction.
Vibe Coding weakens the depth of code understanding and the strength of validation, which amplifies security risks in irreversible, asset-bound blockchain systems.
In high-risk blockchain systems, Vibe Coding is more suitable for prototyping, non-core logic implementation, and experimental development scenarios, rather than being directly applied to core contract logic that controls high-value assets.
The development efficiency improvements based on Vibe Coding must be accompanied by more rigorous security audits,

Summary
Bitcoin price returns to the $96,000 mark and steadily moves along the upward channel. Ethereum breaks through the key resistance level of $3,300 and continues to fluctuate at high levels.
Recently, the Zcash Foundation announced that the SEC has ended years of investigation without taking enforcement action; on Thursday, a key supporter experienced a setback as the Senate Banking Committee canceled the hearing for the CLARITY Act amendment.
Both Bitcoin and Ethereum broke through, liquidating nearly $700 million in short positions; Vitalik Buterin pointed out the flaws of decentralized stablecoins, and the Zcash controversy and quantum threats have attracted attention.
In the past week, 18 crypto and related projects announced completed funding or mergers and acquisitions, covering sectors such as RWA, staking services, CeFi, and infrastructure.
ONDO, TRUMP and

Crypto Asset Panorama
BTC (+0.91% | Current price 96,365.4 USDT)
Bitcoin price has retaken the $96,000 mark and is steadily moving along the upward channel. This round of rebound has shown strong momentum both in terms of magnitude and structure: the price started from a phased bottom area of $90,000–$92,000, with a single-day rebound of about 4.6%, reaching the highest level since late November. From a market structure perspective, spot buying is the main driving force behind this rally, followed by passive covering of futures shorts, further amplifying the upward trend. Meanwhile, ten Bitcoin spot ETFs have a total net inflow of nearly 90,000 BTC, and other mainstream coin ETFs also recorded net inflows. On-chain data shows increasing participant polarization: the average size of spot orders around $90,000 has significantly expanded, indicating that institutions or high-net-worth funds are quietly positioning at low levels; whereas

Market Overview
Over the past week, BTC has formed effective support around 90,000, showing an overall oscillating and corrective trend. The price has re-claimed the MA5 and MA10, but is still constrained above the MA30 (approximately $95,100), with insufficient trading volume, indicating that the current rebound is mainly a technical correction, and the battle between bulls and bears remains evident. Overall, short-term sentiment has improved, but to confirm a strong trend, increased volume and a successful breakout of key moving averages are still needed.
Options Market Dynamics
Latest data shows that BTC implied volatility (IV) remains at 41%, and ETH IV stays at 57%. Among them, ETH IV has fallen to a very low level of 0.8% percentile over the past year, indicating that the options market is extremely cautious about short-term price fluctuations.
In the past week, BTC and ETH's 25-Delta

Cryptocurrency Asset Overview
BTC (+4.66% | Current Price 95,448.6 USDT)
BTC has shown a strong unilateral upward trend over the past 24 hours. Currently, it is in a slight retracement phase above $95,000. The short-term trend remains bullish, but it has entered a high-level consolidation zone. The 5-hour moving average (MA) has significantly crossed above and moved away from the 10 and 30 MA lines. The moving averages are in a standard bullish alignment and trending upward, indicating that the short- and medium-term trends are generally bullish. However, the large divergence among the moving averages suggests a potential technical correction in the short term. Meanwhile, the chart shows a rapid surge to about $96,600 followed by a pullback to the $95,000–$95,500 range, forming upper shadow candles. This indicates that profit-taking pressure has emerged above $96,000, and divergence at high levels is increasing. Considering the slightly warming regulatory outlook, geopolitical tensions, and

Cryptocurrency Market Overview
BTC (+4.66% | Current price 95,448.6 USDT): BTC has shown strong upward momentum over the past 24 hours, currently slightly retracing above $95,000. In the short term, the trend remains bullish but is entering a high-level consolidation phase. The MA5/MA10/MA30 are all in a bullish alignment and trending upward, indicating a positive trend but with increasing divergence, suggesting a need for a pullback to digest gains; after rising to about $96,600 and then pulling back to form an upper shadow, it shows that profit-taking pressure above $96,000 is significant and divergence is increasing. Considering the marginal improvement in regulatory expectations, geopolitical uncertainties, and hedging demand against inflation, BTC's future trend may switch between bullish consolidation and a high-level pullback confirmation before resuming upward movement.
ETH (+7.62% | Current price 3,329.9 USDT): ETH has followed BTC's upward trend over the past 24 hours, rising from about $3,100 to

Last week, the market showed BTC oscillating and recovering, with ETH performing better than non-mainstream assets. Public chain capital flows concentrated into trading networks, with StarkNet becoming the core technological support for Perp DEX. The full report provides in-depth analysis and market data.

Cryptocurrency Market Overview
BTC (-0.60% | Current price 91,510 USDT): Bitcoin's short-term trend shows a oscillating upward pattern, reflecting a gradual recovery in market sentiment and investor confidence. From the 4-hour chart, the MACD green bars are enlarging, MA5, MA10, and MA30 are in a bullish alignment, and RSI is moving upward simultaneously, indicating that short-term momentum remains relatively strong. On the daily chart, Bitcoin repeatedly faces resistance below the key level of 94,000 USD. The price is moving within a gradually converging ascending wedge, with the upper and lower boundaries tested multiple times, suggesting a directional breakout is imminent. If the price can effectively break above the upper boundary of the wedge and re-establish above 94,000 USD and major moving averages, it will be seen as an important confirmation signal for the start of a new upward trend.
ETH (-1.22% | Current price 3,116 USDT): In terms of technical breakout

Crypto Asset Overview
BTC (+0.21% | Current Price 91,589 USDT)
BTC has shown a slightly bullish trend with fluctuations over the past day. The price has retested and regained above the short-term moving average system, currently trading above MA5, MA10, and MA30, indicating a short-term structural recovery. The moving average system is gradually shifting to a bullish alignment, suggesting buying pressure is beginning to take the lead, but resistance remains in the previous high region. The MACD is above the zero line and continues to diverge upward, with the momentum histogram steadily increasing, indicating short-term bullish momentum. Overall, BTC is still in a rebound phase within a range. If it can effectively hold above $92,000, it may further test the resistance zone at $93,000–$94,000; conversely, if it falls back and breaks below the $90,800–$91,000 range, caution should be taken for potential oscillation and retest risks.
ETH (+0.23% | Current Price

Cryptocurrency Market Overview
BTC (+0.21% | Current Price 91,589 USDT): BTC has shown a slightly bullish trend over the past day, with the price bouncing back after a pullback and regaining the short-term moving average system. Currently trading above MA5, MA10, and MA30, the short-term structure has been somewhat repaired. The moving average system is gradually shifting to a bullish alignment, indicating that buying pressure is beginning to take the lead, but it is still constrained by previous high regions above. The MACD is above the zero line and maintains an upward divergence, with the momentum histogram continuing to expand, indicating short-term bullish momentum. Overall, BTC remains in a rebound phase within a range. If it can effectively hold above $92,000, it may further test the resistance zone at $93,000–$94,000; conversely, if it falls back and breaks below the $90,800–$91,000 range, traders should watch out for the risk of oscillation and pullback.
ETH (+0.23% | Current Price 3,

Gate Research Institute: On January 9, BTC price initially continued the previous rally and surged rapidly, forming a local high around 94,800 USDT; ETH price initially continued its upward trend and further surged, forming a local high near 3,308 USDT. Subsequently, bullish momentum significantly weakened, the price retreated from the high and gradually evolved into a relatively smooth downward trend; ISLM became a focal point with an increase of over +460%. JPMorgan Chase advances its blockchain strategy, planning to create an "interoperable digital currency" system; Hilbert Group acquired Enigma Nordic for $25 million, boosting institutional-grade crypto trading; Tether executives' affiliated company acquired Northern Data's Bitcoin mining business, drawing attention.

In December 2025, the activity level of the public chain ecosystem slowed down, and differentiation deepened. Solana and Ethereum remain the core, with obvious internal differentiation within Layer2. The market has shifted from narrative-driven to efficiency and application filtering. Regarding BTC, based on the distribution of comprehensive costs, floating losses, supply, and holder structure, the current market is in a phase of cyclical pullback and rebalancing during a bull market. Short-term pressure exists, but long-term holdings remain stable; if the key cost zone below can be effectively maintained, the market is expected to gradually recover after oscillating and digesting. On the project level, BSC predicts that market trading volume will continue to expand, but liquidity is highly concentrated in Opinion, and new platforms are still in the early validation stage. On the token level, $BEAT experienced a maximum increase of nearly 300% driven by capital rotation, with the market mainly driven by trading attributes and sentiment.

Cryptocurrency Market Overview
BTC (-0.25% | Current price 91,065 USDT): In the past 24 hours, BTC's price initially continued the previous rally and surged rapidly, forming a local high near 94,800 USDT. Subsequently, bullish momentum waned, and the price began to retreat from the high, experiencing a noticeable downward trend. During the decline, the price dipped to around 88,465 USDT for support, with bearish momentum gradually dissipating. The market saw bottom-fishing funds entering, prompting a technical rebound. Currently, the price has recovered to around 91,000 USDT, but overall, it remains in a correction and consolidation phase after the decline. There is significant resistance in the 92,000–93,000 region above, while the 90,000 level below has become an important support for short-term bulls and bears. The short-term trend is mainly characterized by oscillation and correction.

Cryptocurrency Asset Overview
BTC (-2.13% | Current Price 90,887 USDT)
BTC entered a consolidation phase after a sharp rise and pullback on the 1-hour chart. The price found support around $91,000, with a short-term attempt to recover towards MA5 and MA10, but overall it remains trading around MA30.

Summary
BTC and ETH maintain oscillation and recovery, with the trend yet to be confirmed. Funds are shifting preference towards low-volatility and mid-to-long-term narrative assets.
Aave Horizon RWA market net deposits have surpassed $600 million, with institutional funds continuously entering.
Tokenized stock asset management scale has exceeded $1 billion, with on-chain securities accelerating expansion.
Nike sold RTFKT, completing a phased liquidation of its Web3 business attempt.
Polymarket introduces real estate prediction trading, accelerating coverage of real economic variables.
CONX, APT, and STRK will unlock approximately $25.23 million, $21.26 million, and $11.10 million worth of tokens respectively over the next 7 days.
Market Analysis
Market Commentary
BTC Market — After a spike and pullback on the 1-hour chart, BTC entered a consolidation phase, with the price

Cryptocurrency Asset Overview
BTC (-0.21% | Current Price 92,505 USDT)
BTC has entered a consolidation phase after a short-term pullback from recent highs. The price has retreated to around $92,500, and the short-term upward momentum has paused. The moving average structure shows divergence, with MA5 crossing below MA10, and the price has broken below the short-term moving average support. However, the medium-term MA30 remains upward, indicating that the overall bullish structure has not been broken. The MACD is below the zero line, with the green histogram narrowing but not yet turning red. The bearish momentum is easing slightly, but a reversal signal is still insufficient. Overall, BTC is in a short-term correction and recovery phase after a high-level pullback. If it can regain the $93,500–$94,000 range, the upward trend may continue; otherwise, if it remains under pressure below the moving averages, attention should be paid to the support levels around $91,800–$92,000.

Cryptocurrency Market Overview
BTC (-0.21% | Current Price 92,505 USDT): BTC has entered a consolidation phase after a recent pullback from its highs over the past day. The price has retreated to around $92,500, and the short-term upward momentum has paused. The moving average structure shows divergence, with MA5 crossing below MA10, and the price has broken below the short-term moving average support. However, the mid-term MA30 remains upward, indicating that the overall bullish structure has not been broken. The MACD is below the zero line, with the green bars narrowing but not yet turning red. The bearish momentum is easing slightly, but a reversal signal is still insufficient. Overall, BTC is in a short-term correction and recovery phase after a high-level pullback. If it can regain the $93,500–$94,000 range, the upward trend may continue; conversely, if it remains under pressure below the moving averages, attention should be paid to the support levels around $91,800–$92,000.