GateResearch

crypto market panorama
- BTC (-0.37% | Current price 107,460 USDT): BTC fluctuates between 106,000 and 107,000 USDT, with short-term moving averages gradually converging with medium-term moving averages, indicating a lack of direction in the short term. After a significant volume increase on the 25th, trading volume has noticeably decreased. The current price has slightly dipped below MA 5, and short-term momentum is weak. The MACD histogram has turned negative, with the fast line crossing below the slow line, lacking any clear signals for a strong upward movement. If the bulls cannot regain control, there is a risk of further downward adjustment, and close attention needs to be paid to market momentum and sentiment changes. On June 26, BTC ETF had a net inflow of 226 million USD, with BlackRock's IBIT inflowing 163 million USD, and Fidelity's FBTC inflowing 32.9 million USD, indicating that institutional funds continue to increase their allocation to Bitcoin.
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Preface
This quantitative biweekly report (from June 10 to June 23, 2025) focuses on the market performance of Bitcoin and Ethereum, systematically analyzing key indicators such as long-short ratios, contract open interest, and funding rates, providing a quantitative interpretation of the overall market situation. This issue's quantitative strategy module emphasizes the practical application of the "RSI Trend Reversal Strategy" among the top ten cryptocurrency projects by market capitalization (excluding stablecoins), systematically elaborating on its strategy logic, signal determination mechanism, and execution process. Through parameter optimization and historical backtesting validation, the strategy demonstrates good stability and execution discipline in trend identification and risk control. Compared to simply holding BTC and ETH, this strategy performs better in terms of improving returns and controlling drawdowns, providing a practical reference framework for quantitative trading.
Abstract
- In the past two weeks, BTC has been between 100,000 and 110,000

1. Market Overview Last Week
Last week (from June 16 to June 23, 2025), influenced by the escalation of geopolitical tensions in the Middle East, the possibility of Iran blocking the Strait of Hormuz, and the Federal Reserve's hawkish stance, both Bitcoin (BTC) and Ethereum (ETH) experienced an overall decline, while the altcoin market saw a more significant correction.
In terms of industry dynamics, the Solana ecosystem liquidity protocol Meteora has launched a profit and loss tracker and DLMM tool to further optimize user experience; the Renzo Protocol, in collaboration with Concrete, has introduced a Restaking Vault product aimed at institutions to promote EigenLayer.

Gate Research Institute Weekly Report: This week, BTC rose by 2.77%, and the K-line is generally in a long positions arrangement, indicating that its strong market trend will have some continuity. Altcoins showed a trend of lower lows followed by higher highs, with SEI leading the altcoin zone this week with a rise of over 50%. The Bitcoin Fork, Zero Knowledge (ZK), and Oracle zones rose by 5.3%, 5.2%, and 4.7% respectively in the past 7 days. The number of weekly active users of Ethereum stablecoin exceeded 750,000, setting a new historical high. The Bitcoin ecosystem Web3 social platform MetaSo's on-chain interactions surpassed 100 million, with a new "secondary distribution" incentive mechanism added. BitGo's custody of encryption assets surpassed $100 billion.

encryption crypto market panorama
- BTC (+1.61% | Price: 106,575 USDT): The BTC moving average system is in a bullish arrangement, with the MACD maintaining a golden cross status. Although the momentum bar is slightly converging, there is no reversal signal yet. The trading volume continues to be released moderately, indicating a market bias towards a volatile and strong pattern. In the short term, 98,000 USDT is the effective support area. If there is a subsequent surge in volume to break through the previous high resistance zone of 106,800-107,000 USDT, there is a possibility of further upward movement towards around 108,500 USDT. On the contrary, if the trading volume fails to follow through or falls below 104,000 USDT, caution is needed as the market may return to a retracement channel. On June 24th, BTC ETF saw a net inflow of 588 million USD, with BlackRock's IBIT seeing an inflow of 436 million USD and Fidelity.

crypto market overview
- BTC (+4.24% 丨 Current price 105,482 USDT): Cryptocurrencies such as BTC rose last night as US President Donald Trump announced that Iran and Israel agreed to a ceasefire, with BTC topping 106,000 USDT. On the trend, 110,000 USDT is the pressure level for BTC, and holding the 100,000 USDT integer mark will further attack 110,000 USDT. On June 23, BTC ETFs saw net inflows of $350 million, BlackRock IBIT had net inflows of $217 million, and Fidelity FBTC net inflows exceeded $100 million.
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crypto market panorama
- BTC (-1.26% 丨 Current price 101,106 USDT): Due to geopolitical influences, BTC fell to about 98,000 USDT and then rebounded significantly, forming the prototype of a V-shaped reversal. The short-term support is at 98,000 USDT, and the resistance is at 101,500 USDT. If it can effectively break through this resistance level, BTC is expected to further rise to the 102,800-103,500 USDT range; Conversely, if it breaks below the support of 98,000 USDT, you need to be wary of the risk of the price continuing to fall. BTC ETF inflows of $6.4 million on June 20, including $46.9 million in BlackRock IBIT and $40.5 million in Fidelity FBTC.
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Abstract
- Article Background: In this new cycle, the gameplay of Memecoins is constantly evolving. One type of gameplay relies on social media KOLs to drive it forward, using carefully planned event marketing to bring their managed Memecoins to the forefront. However, this KOL-driven Memecoin's first wave of opportunities is extremely difficult to capture. Another type of Meme is the on-chain manifestation of concepts that are exploding in the real world, and the market opportunities for these Memes are easier to predict. A more representative example of the latter includes the game "Black Myth: Wukong", the movie "Ne Zha", and the large model "DeepSeek" with the same name as the Memecoin.
- Video games: There is a high overlap between game users and cryptocurrency traders, with the main participants being young Generation Z individuals. The narrative of GameFi has already become

crypto market panorama
- BTC (-0.29% | Current price 104,647 USDT): Last week, the intraday low touched 103,000 USD, then stabilized and rebounded. However, the current price has dropped again, reflecting that market sentiment remains cautious. Overall, Bitcoin is likely to maintain a wide range of fluctuations in the short term, and attention can be paid to the performance of support and resistance levels at the boundaries of this range. In terms of liquidity, yesterday's net inflow of Bitcoin spot ETF was 389 million USD, of which BlackRock's IBIT accounted for 278 million USD.
- ETH (+0.01% | Current price 2,518 USDT): Affected by the overall market correction, ETH has once again surged and then retreated, but still maintains a wide range consolidation trend. The ETH/BTC exchange rate has dipped to 0.024, and the market share has dropped to 9.22%. In terms of capital flow.

Overview
Gate Research analyzes and sorts out the market dynamics and popular airdrop projects from June 3 to June 16, 2025. During this period, the crypto market continued to fluctuate at a high level, and there has not yet been a systematic recovery, but driven by local themes, small and medium-capitalization tokens performed well. The top 500 tokens by market capitalization rose by an average of 16.65%, with the market cap ranking in the 301–400 range rising by more than 46%, indicating that the preference for assets with topical and narrative potential is still evident. AURA soared by more than 180 times, and the trading volume of projects such as CONSCIOUS was amplified by more than 100 times, and the resonance effect of volume and price was prominent; Some of the tokens that have seen large volumes but stagnate reflect the market's divergent expectations for their subsequent performance. The overall market presents a structure of "theme rotation + mainstream stability", and volume changes are still an important signal to capture short-term opportunities.

Abstract
1. BTC fluctuates narrowly around $105,000; $2,500 serves as a short-term support level for ETH.
2. The Federal Reserve continues to keep interest rates unchanged, expecting to cut rates twice in 2025.
3. The net asset value of the Ethereum spot ETF has exceeded $10 billion.
4. Over 20,000 Bitcoin addresses hold a value of over $10 million, accounting for nearly 9.43% of the total BTC supply.
5. Ethereum staking volume exceeds 35 million coins, setting a new historical high.
6. Gate Launchpool launches SPK, with a total prize pool of 720,000 SPK.
Market Interpretation
Market Commentary
- BTC Market —— Last week, BTC was significantly impacted by the geopolitical situation in the Middle East, falling to a low of 103,000 USD.

This report systematically analyzes the mechanism structure and user income path of income-based stablecoins, and extracts the core logic and operational framework of stablecoin alpha at the current stage through a strategic review of representative projects such as USDe, USDS, and USDY, so as to help investors identify high-quality opportunities with risk-adjusted return potential. The report points out that stablecoin alpha is essentially a structured, sustainable and incentivized income system with potential for release, and its income can come from multiple dimensions such as on-chain arbitrage, off-chain assets, mechanism innovation and ecological incentives, and emphasizes that while pursuing high returns, users need to attach great importance to key risk factors such as liquidation, liquidity and project security.

Gate Research Institute: Ink launches INK Token Airdrop, rewarding early liquidity protocol participants; Namada Mainnet launch is imminent, NAM trading opens this week. BTC falls back to 104,747 USDT, ETH remains volatile, alts show differentiation. Popular tokens like EigenLayer, GPS, and IO perform well, Ondo Finance establishes a global market alliance to promote RWA standardization. Gate Launchpool will soon open for Namada new listing, stake GT or USDT to receive 150,000 NAM rewards for free!

crypto market panorama
- BTC (+1.16% | Current price 107,125 USDT): Last week, Bitcoin was affected by the geopolitical situation in the Middle East and dipped to a low of 103,000 USD during the day, then stabilized and rebounded. Yesterday, it rebounded to a previous resistance level near 109,000 USD. It is estimated that in the short term, it will show a range-bound market. On the funding side, yesterday the net inflow of Bitcoin spot ETF reached 408 million USD, among which BlackRock's IBIT contributed 266 million USD, indicating that institutional buying remains resilient.
- ETH (+0.17% | Current Price 2,578 USDT): Affected by the overall market pullback, ETH has once again surged and then retreated, but still maintains a wide range consolidation trend. The ETH/BTC exchange rate has dropped to 0.024, with the market share decreasing to 9.22%. In terms of capital flow,

crypto market panorama
BTC (+0.25% | Current Price 105,800 USDT): Last week, Bitcoin was affected by the geopolitical situation in the Middle East and briefly dipped, with an intraday low of 103,000 USD. It then stabilized and rebounded, but encountered resistance around 106,000 USD, forming a clear short-term pressure level. In terms of liquidity, last Friday Bitcoin spot.

Gate Research Daily: On June 13, BTC fell 4.30% to its current price of 103,884 USDT, and briefly fell below $103,000 during the session, with a net outflow of $202 million in ETFs in a single day. ETH dropped by 10.76%, and its current price is 2,474 USDT; The ETH ETF has seen net inflows for 18 consecutive business days, with a net inflow of $10.8 million yesterday. The altcoin market fell overall, with the Fear & Greed Index dropping to 54. The three major indexes continued to rise at the close of the U.S. stock market on Thursday, with the Dow and S&P hitting new three-month highs, and the U.S. May PPI data being better than expected, and spot gold at $3,435.15 an ounce, up 1.43% in 24 hours. The SEC has officially repealed the Gensler-era proposal for draconian DeFi regulation, and industry regulation has slowed down in the short term. Uniswap Wallet has launched a smart wallet function, which supports one-click exchange and bundled transactions. Polygon's native token, POL, is cross-chained to Solana via the Wormhole NTT framework. Gate Launchpool's new MEET48 project is now open.

Introduction
This quantitative bi-weekly report (from May 27, 2025, to June 9, 2025) focuses on the market performance of Bitcoin and Ethereum, systematically analyzing key indicators such as long-short ratio, contract open interest, and funding rates, providing a quantitative interpretation of the overall market situation. The quantitative strategy module in this issue emphasizes the practical application of the "moving average trend breakout strategy" in the top ten crypto market cap projects (excluding stablecoins), systematically explaining its strategy logic, signal determination mechanism, and execution process. Through parameter optimization and historical backtesting validation, the strategy demonstrates good stability and execution discipline in trend recognition and risk control. Compared to simply holding BTC and ETH, this strategy performs better in terms of yield enhancement and drawdown control, offering a quantitative trading reference framework with practical value.
Abstract
In the past two weeks, BTC has been between 100,000 and 110,000 US

Gate Research Weekly Report: BTC fell back to 108,000 USD after breaking through 111,000 USD this week, with short-term high-level fluctuations; ETH broke through the 2,700 USD resistance level, with market share rising to 9.8%; AI Meme, Virtuals, and Perptual Futures DEX zones led the gains; Plasma's 1 billion USD deposit limit was quickly sold out; Bullish resubmitted its listing application; the U.S. Senate passed the procedural vote on the GENIUS stablecoin bill.

Crypto market panorama
BTC (-0.02% | Current price 109,603 USDT): After a strong rebound yesterday, BTC has once again entered a consolidation phase, briefly falling below 109,000 USD during the day. On Tuesday, BTC ETF inflows amounted to 94.5 million USD, with ARK's ARKB inflowing 20.3 million USD and Fidelity's FBTC inflowing 67.1 million USD.
ETH (+3.00% | Current price 2,778 USDT): ETH has staged a strong rebound following the market yesterday, currently consolidating around 2,800 USD, with the ETH/BTC exchange rate rising to 0.025; ETH's market share has increased to 9.87%. On Tuesday, the net inflow of ETH ETF was 4,440.

Abstract
- The total crypto market capitalization showed a high volatility trend in May, continuing the upward momentum brought about by the easing of tariffs at the end of April, and the market as a whole maintained a strong upward trend. Driven by the passage of the U.S. stablecoin bill "GENIUS", the total crypto market capitalization reached a stage high before the bill was passed. With the gradual digestion of the effect of favorable policies, the total market value has seen a moderate correction.
- In May 2025, the top 8 cryptocurrencies by market capitalization generally rose, with ETH leading mainstream cryptocurrencies with an increase of over 40%. The only token that fell in May was XRP, whose market capitalization decreased by 2.33%, primarily due to the delay in the approval of the XRP ETF.
- In terms of on-chain data, Solana continues to lead with an average of nearly 100 million transactions per day, solidifying its dominance in high-frequency applications; Base in May