- Market Commentary: The crypto market remained broadly range-bound and weak this week, with both BTC and ETH posting pullbacks of varying degrees while market sentiment stayed in the Fear zone. After consolidating at higher levels, BTC extended its decline and is still likely to remain range-bound in the short term. ETH has temporarily stabilized near the USD 2,000 level, but its overall recovery remains limited. Altcoins showed mixed performance, with HYPE rising against the trend, while major altcoins such as SOL, ADA, and DOGE largely remained under pressure, indicating that market risk appetite has yet to recover meaningfully.
- Key Data: Stablecoin demand in Dubai rose significantly, with USDC supply increasing by approximately USD 2.36 billion over the past week, reflecting rapidly growing demand for on-chain dollar liquidity amid geopolitical uncertainty. Meanwhile, capital activity on Solana remained elevated, with stablecoin market capitalization rising to USD 15.639 billion, DeFi TVL reaching USD 11.387 billion, and Jito TVL further increasing to USD 1.114 billion, indicating that capital continues to stay active within the Solana ecosystem.
- This Week’s Focus: Ongoing geopolitical tensions in the Middle East continued to disrupt global markets, with the focus of market pricing gradually shifting from the conflict itself toward oil prices, inflation expectations, and the valuation of financial assets. Although BTC has not shown a clear safe-haven profile, it has continued to trade in a narrow range near USD 70,000 amid a return to net inflows in Bitcoin ETFs. At the same time, Pump.fun’s registration of subdomains for Base, BSC, Monad, and Ethereum fueled market expectations of a multi-chain expansion, also signaling that competition among meme launch platforms is shifting from single-chain dominance to cross-chain liquidity capture.
- Next Week to Watch: In the short term, the market may continue to move in a range-bound recovery pattern, with key attention on macro sentiment, oil price direction, and whether capital inflows can sustain. Over the next 7 days, WBT, BARD, and CONX are set for major token unlocks. Among them, WBT will unlock approximately USD 4.52 billion worth of tokens, representing 38.2% of its circulating supply, and the resulting supply pressure could create volatility for both related asset prices and broader market sentiment.
Discover more details today → Gate Research: BTC, ETH Continue Weak Consolidation | Rising Middle East Tensions Drive Stablecoin Demand
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