Gate Research: Macro Uncertainty Weighs on Market Sentiment, AI Infrastructure and RWA Narratives Gain Momentum

• Market Overview: BTC and ETH remained range-bound with a bearish bias this week as macro uncertainty and weakening risk appetite weighed on short-term sentiment. The altcoin market continued to see structural rotation rather than broad-based gains, with AI infrastructure, RWA, and privacy-focused sectors remaining relatively active.
• Key Highlights: OpenAI significantly increased its AI infrastructure investment plans and announced a data center project exceeding $30 billion, underscoring the intensifying race for AI computing power. Meanwhile, the BIS warned that stablecoins could weaken the effectiveness of capital controls, while monthly on-chain transfer volume for tokenized stocks surpassed $9.2 billion, highlighting the continued expansion of RWA adoption.
• Weekly Focus: Crypto ETFs returned to modest net inflows, suggesting institutional allocation channels remain stable. Approximately $179 million in liquidations occurred over the past 24 hours, with long positions accounting for the majority. The Altcoin Season Index rebounded to around 50, though the market remains in a neutral rotation phase rather than a full-fledged altcoin season.
• Next Week's Outlook: Over the next seven days, H, XPL, and SOSO are scheduled for major token unlocks, with a combined unlock value of approximately $29.4 million. If trading volume and overall risk appetite fail to improve, projects with higher unlock ratios could face more pronounced short-term selling pressure.

Discover more details today → Gate Research: Macro Uncertainty Weighs on Market Sentiment, AI Infrastructure and RWA Narratives Gain Momentum

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Disclaimer

Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team
July 23, 2026

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