Last week, BTC broke through $82,000 driven by continued ETF inflows, with BTC ETFs recording net inflows of $632 million for the week. CEX TradFi equity-type assets continued to grow. On-chain funds flowed back to leading DEXs and mature liquidity venues, with Uniswap and PancakeSwap being the core platforms absorbing this capital; Aave is still digesting the impact of the rsETH incident, leading to a weaker lending market.

A long put is one of the most typical directional options strategies in a bear market. By paying a fixed premium, this strategy gains elastic downside profit potential with limited maximum loss, making it suitable for expressing bearish views or hedging portfolio risk. This article uses a BTC case study to explain the profit structure, applicable scenarios, risk sources, and practical key points of a Long Put, helping readers understand this trading tool that combines both defensive and offensive attributes in high-volatility markets.

Against the backdrop of political, sports, and geopolitical events continuously amplifying trading demand and the platform’s fee scope expanding in tandem, Polymarket’s trading volume and active users are showing structural growth driven by events. However, high revenues do not equate to long-term validation. Polymarket currently functions more as a trading market activated by high-attention events rather than a broadly diversified, general-purpose platform. Gate, leveraging its account system, low barriers to entry, and product integration capabilities, is entering the prediction market, offering an alternative, more easily convertible gateway beyond the native on-chain path.

Markets evolve, and tools are iterated. Only a profound understanding of the underlying mechanisms allows one to find new footholds in every structural shift.

The impact of AI has already reached the crypto space, faster than most people expected.

Last week, the crypto market exhibited an overall pattern of "cautious optimism," with BTC rising from $68,000 to over $77,000. Trading activity in TradFi has cooled somewhat, but gold remains a core trading asset. On-chain capital continues to concentrate in high-liquidity and high-turnover scenarios, with PancakeSwap recording a single-week trading volume close to $36 billion. Stablecoin capital is clearly flowing back into settlement-type dollar assets, with the USDT supply rising to nearly $200 billion. Following the rsETH incident, Aave's lending balance plummeted by 26.7% in a single week.Core View: Last week, the crypto market showed a pattern of "cautious optimism." BTC rose above $77,000 due to easing geopolitical risks and rising expectations of interest rate cuts. On-chain capital concentrated in high-liquidity and settlement-type assets, but the repricing of complex risk pathways (such as the rsETH incident) led to a structural migration of capital.Key Factors:BTC ETFs saw net weekly inflows of $585 million, with BlackRock's IBIT accounting for over 80%. Total net asset value exceeded $102.64 billion, indicating a restoration of market confidence.Stablecoin capital flowed back into settlement assets, with USDT supply rising to nearly $200 billion, while the yield-bearing stablecoin USDe recorded net outflows of nearly $2 billion in a single week.Following the rsETH incident, on-chain risk appetite decreased. Aave's lending balance plummeted 26.7% in a single week, with capital accelerating its shift towards competing protocols like Spark. Core stablecoin borrowing rates rose significantly.The derivatives market exhibited a classic divergence structure of "negative funding rates + high-range volatility." BTC shorts remained crowded, but spot and institutional buying power provided support, leading to a rebound in implied volatility.Institutional trading activity rebounded, with spot trading volume increasing 20.09% week-over-week. CrossEx's trading volume and capital scale reached new highs (growing 79% and 816% week-over-week, respectively).

The Pre-IPO market is still in its early stages, and it's too early to tell who will come out on top.

Over the past week, market volatility intensified under the combined effects of fluctuating geopolitical conflict expectations and stronger-than-expected economic data. WTI crude oil rose over 7% weekly, briefly surpassing $113. Coupled with robust retail sales, ISM, and non-farm payroll data, U.S. stocks rebounded, precious metals hit new highs, and crypto assets followed the recovery in risk appetite. On the capital front, BTC ETFs saw a modest weekly net inflow of approximately $22.3 million, while ETH ETFs continued net outflows. End-of-quarter rebalancing led to rapid outflows following initial inflows.

Over the past week, the market was driven by a combination of ceasefire easing, cooling inflation, and stable policies. Oil prices plummeted, the VIX retreated, risk appetite rebounded, and BTC's trading range shifted upward to $68,000–$73,000. The capital landscape showed strong recovery after intense volatility. BTC ETFs recorded net inflows of approximately $833 million for the week, hitting a new high for the period, while ETH ETFs also saw net inflows, indicating institutional buying has regained dominance. Trading structures shifted towards macro high-volatility assets and leading platforms, with capital concentrating on energy commodities like crude oil, and DEX activity returning to high-liquidity platforms such as Uniswap.

Many people watch the games, but few can trade the outcomes—this time, ForeGate has smashed the barrier to entry

Against the backdrop of overall pressure on the crypto market and intensified project divergence in Q1 2026, Gate's spot listing system still demonstrated strong resilience: with a 77.1% coverage rate of top-tier projects, a 73% first-listing ratio, and a 37.8% proportion of exclusive projects, it built a structurally complete supply framework. Regarding post-listing performance, the proportion of new tokens that rose across multiple time windows from 5 minutes to 7 days generally remained above 50%, with median returns at 24 hours and 3 days reaching +9.3% and +10.0%, respectively.

Over the past week, the market was primarily driven by escalating US-Iran tensions. WTI crude oil surged nearly 17%, reclaiming the $100 level, which pushed US Treasury yields higher (10Y to 4.44%), strengthened the US dollar, and led to a broad decline of over 6% in the crypto market, with the VIX index rising to 31. On the capital flow front, BTC and ETH ETFs saw net outflows of approximately $500 million mid-week, followed by a slight rebound. On-chain, Perp DEX TradFi trading volume rose to around $17 billion, while CEX TradFi perpetual trading hit a new high for the period; overall DEX volume retreated.

It lowers the barrier for ordinary users to participate in global hotspot events and provides professional traders with a more comprehensive environment for price discovery and strategic trading.

The depreciation of the US dollar is the result of the combined long-term effects of changes in real purchasing power, fiscal policy, and real interest rates. The traditional banking system, constrained by regulation, has created spillover demand for dollars, which stablecoins are precisely positioned to absorb. The quality of stablecoin collateral, transparency, and issuer credibility are becoming core variables determining their price stability, liquidity priority, and long-term capital preferences. Looking ahead to 2026, stablecoins are more likely to play the role of a US dollar "reservoir" and distribution layer. Their reserve assets, forming a stable bid for short-term US Treasuries, are in turn influencing the US dollar's own pricing structure.

Gate will seek more regional compliance licenses for businesses such as payments and derivatives in the future.

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