Gate Research: Multi-Day Rally in BTC and ETH, Ethereum ETF Progress, and Trump Incident Could Be Catalysts

Gate Research: Multi-Day Rally in BTC and ETH, Ethereum ETF Progress, and Trump Incident Could Be Catalysts

Gate Research's Weekly Market Review and Outlook offers an in-depth examination of Bitcoin and altcoin trends, macroeconomic capital flows, and on-chain metrics. It also explores developments in prominent projects, details regarding token unlocks, and highlights from key industry conferences. This report delivers thorough analysis and forward-looking insights into the crypto market.

In our Market Analysis,BTC saw five consecutive days of gains before a slight pullback. ETH followed BTC's trend but recorded larger single-day increases due to the anticipated ETF launch. Altcoins experienced a broad-based rally. The surge in Meme coin trading pushed the mainnet Gas Fee above 10 gwei at the start of the week, though it later dropped to single digits. On-chain activity remains subdued.

In Key Data Highlights, Bitcoin spot ETFs witnessed increased net inflows, while the market capitalization of stablecoins saw a slight uptick. This indicates a faster inflow of off-exchange funds into the market, possibly driven by interest in alternative investment assets following the Trump assassination attempt and the market's expectations for the upcoming Ethereum spot ETF launch.

In Market Opportunities, This week, keep an eye on the airdrop project Karak. Karak is an emerging decentralized finance protocol focused on providing multi-chain asset management and re-staking services. Its vision is to offer users more efficient capital utilization and a richer array of yield options through its innovative re-staking mechanism.

Lastly, for Next Week's Highlights, the Ethereum community will launch the highly anticipated Pectra Devnet 1 testnet. Bitcoin 2024 will be held at the Music City Center in Nashville, Tennessee, USA. South Korea's Virtual Asset User Protection Act will come into effect. Thailand's Prime Minister will announce a digital wallet registration plan.

For a deeper dive into this week's market review and outlook, visit 👉🏻 Gate Research: Multi-Day Rally in BTC and ETH, Ethereum ETF Progress, and Trump Incident Could Be Catalysts

Gate Research

Gate Research is a comprehensive blockchain and crypto research platform, providing readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

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Gate Team
July 2th, 2024