Cryptocurrency Asset Overview
BTC (-0.37% | Current Price: 67,228 USDT)
BTC previously dropped sharply to $62,501 before stabilizing and rebounding, with the highest intraday price reaching $70,003. It then pulled back after a rally and is now fluctuating above $67,000. Overall, market sentiment has significantly improved, but short-term consolidation is underway. On the technical side, the MA5 and MA10 formed a golden cross at low levels, driving a rebound. Currently, moving averages are leveling off, and prices are oscillating around the MA30, with increased short-term bullish and bearish competition. During the rally, volume increased noticeably, but recent volume has contracted, indicating a slowdown in momentum. Resistance is seen at $68,000–$69,000; a volume breakout could test $70,000 again. If rejected, support is around $66,000. The overall pattern is a strong oscillation.
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ETH (-0.30% | Current Price: $2,021)
ETH previously followed the market decline, forming a local bottom near $1,800, which was quickly bounced from after touching that support level, with a high of $2,148. After the rally, profit-taking occurred, and the price has fallen back to around $2,020, consolidating at high levels. On the technical side, MA5 and MA10 formed a golden cross at low levels, pushing prices higher with increased volume, indicating strong capital inflow. Currently, short-term moving averages are leveling, and prices fluctuate around the MA system. MA30 has turned upward, providing support. During the rally, volume was high, then contracted for consolidation, typical of a healthy correction after an uptrend. Short-term resistance is at $2,050–$2,080; a volume breakout above $2,100 could retest the high at $2,148. If resistance persists, prices may dip to $1,980–$2,000 for support. Overall, the trend remains strong but momentum is waning, with short-term consolidation likely.
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GT (-0.28% | Current Price: $7.14)
GT previously declined steadily, forming a local bottom near $6.55, then rebounded to a high of $7.33. After the rally, a correction ensued, and the current price is oscillating between $7.10 and $7.20, showing a sideways correction after the rebound. Moving average analysis indicates MA5 and MA10 formed a golden cross at low levels, improving the short-term trend. The MA system is gradually converging, with prices bouncing around MA5 and MA10. MA30 has started to flatten, indicating a shift from weak to stable mid-short-term trend. During the rally, volume was significant, but recent volume has contracted, signaling a consolidation phase. Resistance is at $7.25–$7.33; a volume breakout above $7.33 could open further upside. If resistance holds, a pullback to $7.00 or even $6.90 is possible for confirmation. Overall, the structure is bullish but with slowed momentum, and short-term trading should focus on range-bound oscillation.
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Daily Gainers and Losers
Most tokens are in a decline, with market sentiment retreating, but 24-hour trading volume has increased significantly compared to yesterday. Major coins mostly fell, but tokens like CC, TON, HBAR saw slight gains. Additionally, tokens such as ZKP, RAVE, BEAT surged over 60% or even 80%, highlighting strong market enthusiasm and capital chasing.
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POWER *Power Protocol (+113.53%, Circulating Market Cap approx. $407 million)
According to Gate data, POWER is currently priced around $1.93, up 113.53% in 24 hours. Power Protocol provides infrastructure for gaming, consumer applications, and on-chain entertainment experiences, supporting multiple use cases within its ecosystem through a unified token system, including integrations with several game developers.
Recent market developments suggest several reasons for POWER’s surge: first, increased trading activity across multiple pairs, especially on decentralized and centralized exchanges, indicating rising market interest. Second, its narrative around GameFi and on-chain entertainment infrastructure has attracted risk-tolerant investors, boosting short-term trading activity. However, the rally also involves volatility and capital rotation, driven largely by market sentiment.
RAVE *RaveDAO (+34.27%, Circulating Market Cap approx. $88.26 million)
According to Gate data, RAVE is currently priced at $0.38182, up 34.27% in 24 hours. RaveDAO is a crypto entertainment ecosystem centered on music events and Web3 community experiences, expanding influence through offline events and collaborations worldwide.
The recent rise in RAVE can be attributed to: overall market sentiment improving before holidays, leading to capital inflows into small-cap assets; increased activity and trading volume in RAVE, which also contributed to the price increase. Previously, whale token withdrawals from exchanges reduced liquidity, which also supported the rally. Currently, the short-term surge mainly reflects improved market sentiment and capital rotation in high-risk assets.
DENT (+83.70%, Circulating Market Cap approx. $35 million)
According to Gate data, DENT is priced at $0.0004034, up 83.70% in 24 hours. DENT is a decentralized telecom asset focused on mobile data and eSIM trading, aiming to build a peer-to-peer network data exchange ecosystem.
Recent surges in DENT are characterized by speculative short-term explosive growth: on one hand, capital rotation into low-market-cap, high-volatility assets has driven inflows into tokens like DENT, with technicals showing rapid volume spikes. On the other hand, social media and market discussions link its recent performance to upcoming industry events, fueling speculative trading. However, some analysts suggest the rally is partly due to short-term short-squeeze effects, with potential for profit-taking at high levels.
Market Insights
Suspected Insider Betting on ZachXBT Exposing Axiom, Profiting Over $411,000
On-chain tracker @lookonchain revealed that Polymarket user “predictorxyz” (suspected insider) heavily bought “Yes” shares in the prediction market “Will ZachXBT accuse Axiom of insider trading?” with a low entry price of $0.138, investing about $65,800. As the event unfolded and the final verdict was “Yes,” this account made approximately $411,400, ranking among the top profiters.
Previously, ZachXBT accused Axiom employees of abusing internal tools to track private wallet activity and obtain sensitive user info for insider trading since early 2025. Axiom, a crypto trading platform founded in 2024 and part of Y Combinator’s winter 2025 batch, drew widespread attention. The prediction market’s top-ranked outcome was confirmed correct.
Jane Street “Manipulating Bitcoin’s 10 AM Drop” Lacks Data Support; ETF Mechanisms Likely Main Cause
Regarding recent claims on platform X that “Jane Street suppresses Bitcoin price at 10 a.m. ET daily to accumulate ETF shares,” data and expert analysis show no direct evidence. Some crypto accounts suggest that since late 2025, Bitcoin has frequently fallen 2–3% within minutes after US stock market open, with prices dropping from $125,000 to $62,000, attributing this to Jane Street. However, analyst Alex Kruger’s data indicates no consistent, systematic selling pressure during 10:00–10:30 ET; the observed volatility aligns with Nasdaq risk asset re-pricing, reflecting macro risk appetite shifts rather than manipulation.
Industry insiders note that as a registered participant (AP) in spot Bitcoin ETFs, Jane Street’s trading should be understood within ETF operation mechanisms. APs can create shares via “in-kind” creation when demand rises and, under certain exemptions, short ETF shares before hedging with spot Bitcoin—this “short first, then allocate” process can cause short-term volatility at market open but does not imply market manipulation. No on-chain or exchange data currently supports coordinated suppression by Jane Street; such claims are viewed as market sentiment expressions amid a prolonged downtrend.
Circle Stock Surges Past $90, “Decoupling” from Crypto Market; Polymarket Becomes New Growth Driver
Circle’s stock briefly surpassed $90 on Thursday, reaching a new high since mid-November, with nearly 30% gains after earnings release. Bernstein reaffirmed a “buy outperform” rating and a $190 target, citing quarterly revenue and adjusted EBITDA exceeding expectations, and noting the stock’s “obvious decoupling” from overall crypto trends. The report highlights strong trading revenue growth, including blockchain rewards from Circle as a Canton network validator and an increase in USDC holdings to 17% of total supply. The company expects USDC circulation to grow at about 40% CAGR, with non-reserve income expanding.
Mizuho Securities raised its target price from $77 to $90 but maintained a “Neutral” rating, citing rising activity in prediction markets like Polymarket as a key driver of recent USDC demand. Prediction markets are seen as scalable, high-visibility stablecoin applications that can boost trading revenue and reserves. The report also mentions “AI-powered payment agents” as a potential long-term positive. However, it warns that if interest rate cuts occur, reserve interest income could pressure overall profitability.
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Disclaimer
Cryptocurrency market investments involve high risks. Users are advised to conduct independent research and fully understand the assets and products before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.
