Gate Research Institute: Market structural divergence continues, with consolidation and recovery remaining the main theme.

PANews reported on December 19th that Gate Research's latest market report, "BTC and ETH Consolidate, AI and Privacy Computing Sectors Show Structural Strength," points out that against the backdrop of the Fed's expected rate cut but lingering uncertainty, global risk appetite is limited, and the crypto market continues its consolidation and recovery pattern. BTC and ETH remain range-bound, with mainstream assets generally stable but no clear trend breakout yet; market fear is rising, with trading volume concentrated in mainstream assets and stablecoins, and fund behavior leaning towards defensive and short-term rotation.

Research shows that the top 500 tokens by market capitalization generally recorded a moderate increase, but significant structural differentiation emerged, exhibiting characteristics of "relative stability at the top and high volatility in smaller market capitalizations." Tokens related to AI applications and privacy computing showed temporary strength, while assets with weak consensus or high beta experienced significant pullbacks. Volume and price analysis indicates that increased trading volume was mainly concentrated in the small and medium market capitalization range, but only a few stocks truly achieved volume-price resonance, reflecting that trend-following funds have not yet fully returned, and the market has entered a stage of refined pricing.