Gate Research: BTC Surges to Break Above 114K | ETH ETF Ends Five Consecutive Days of Outflows

Crypto Market Overview

• BTC (+2.31% | Current Price: 114,456 USDT): Today, BTC’s price action showed initial consolidation within the 111.7K–112.3K range, followed by a strong breakout above 113K, which shifted the overall trend upward. Multiple retests held above this breakout level, confirming strong support. The rally extended to a high near 114.7K, marking a short-term peak. Overall, BTC is now in a post-breakout consolidation phase at higher levels. The short-term trend remains bullish, and as long as it holds above 113K, further upside momentum could continue.
• ETH (+1.83% | Current Price: 4,199 USDT): ETH displayed a choppy upward trend. After hovering near $4,090, the price dipped but quickly found support and rebounded, breaking above $4,150. Subsequent retests held above this key level, confirming strong buy-side support. The rally pushed ETH toward $4,220, where it set a local high. While slight consolidation followed, ETH remained within a strong zone. With sentiment favoring the upside, holding $4,150 as support could sustain bullish momentum.
• Altcoins: Most major altcoins saw modest gains, with market sentiment leaning toward “neutral” or “buy.” The Fear & Greed Index stood at 50, indicating improved sentiment compared to previous pessimism.
• Macro: On Sept 29, the S&P 500 gained 0.26% to 6,661.21; the Dow Jones rose 0.15% to 46,316.07; and the Nasdaq climbed 0.48% to 22,591.15. As of Sept 30, 2:50 AM (UTC), spot gold traded at $3,850 per ounce, up 0.42% in 24 hours.

Trending Tokens

XAN – Anoma (+102.45%, Circulating Market Cap: $473M)

According to Gate market data, XAN is priced at $0.192, up 102.45% in 24 hours. Anoma is a decentralized operating system designed to unify the Web3 application layer, allowing developers to write once and deploy across multiple chains. Built on an intent-centric architecture, it focuses on user experience and application development, helping Web3 compete directly with Web2.

The surge was driven by Gate listing, leveraged products, trading competitions, and expectations around mainnet/governance progress. Market enthusiasm is high, liquidity inflows are significant, and trading volume has spiked. If catalysts such as new adapters, broader exchange listings, or real-world adoption materialize, momentum could continue; otherwise, profit-taking may lead to sharp pullbacks.

ORDER – Orderly Network (+53.03%, Circulating Market Cap: $83.67M)

ORDER is trading at $0.391, up 53.03% in 24 hours. Orderly Network is a cloud liquidity infrastructure project that unifies cross-chain derivatives liquidity by consolidating orders from multiple chains into a single on-chain order book. This creates deeper liquidity, tighter spreads, and more efficient trading. Built with OP Stack, it leverages Celestia’s data availability and LayerZero’s cross-chain messaging, offering a settlement and ledger layer for multi-chain trading.

The rally was fueled by new exchange listings, governance updates, ecosystem expansion, and sharp increases in liquidity and volume. While sentiment is strong, rapid gains may trigger profit-taking. Holding key supports will be critical for sustaining momentum.

BLUE – Bluefin (+43.64%, Circulating Market Cap: $58.81M)

BLUE is priced at $0.1753, up 43.64% in 24 hours. Bluefin is a decentralized spot and derivatives platform on Sui, backed by Polychain, SIG, Brevan Howard, and others. Since its launch in Sept 2023, it has processed over $39B in volume, making it Sui’s largest protocol by trading volume.

The current rally reflects fast capital inflows and renewed optimism. While strong activity supports further upside, the rapid surge may invite short-term corrections. Whether BLUE holds above support will determine the sustainability of its rally.

Alpha Insights

Keel Launches: Sky Introduces Solana’s New “Star” With a $2.5B Roadmap for RWA and DeFi

On Sept 30, Keel debuted in the Solana ecosystem as the third autonomous “Star” unit of Sky (formerly MakerDAO). Backed by USDS reserves, it plans to allocate up to $2.5B across DeFi and real-world assets. Keel will act as an on-chain capital allocator, injecting liquidity into protocols such as Kamino, Jupiter, and Raydium.

Sky’s “Endgame” architecture now includes Spark and Grove, focused on Ethereum DeFi and loan obligations, respectively. The launch of Keel marks further expansion, with Solana Foundation President Lily Liu calling it a milestone for Solana’s capital markets role. Sky co-founder Rune Christensen said Keel is set to become Solana’s largest allocator, driving RWA and DeFi growth.

Gold Hits New High as Tokenized Gold Market Nears $3B

Spot gold broke above $3,800/oz, pushing the tokenized gold market to ~$2.9B. DefiLlama data shows Tether Gold (XAUT) and Paxos Gold (PAXG) both saw record monthly volumes of over $3.2B in September, with PAXG attracting $40M in net inflows. XAUT’s market cap hit $1.43B and PAXG’s $1.12B, both record highs.

The surge is fueled by Fed policy bets, inflation concerns, and U.S. government shutdown risks. Gold is up nearly 47% year-to-date, outperforming most assets. Tokenized gold, with blockchain settlement and 24/7 trading, is emerging as a safe-haven and liquidity channel. Analysts expect further expansion as global liquidity eases and geopolitical risks rise.

Ethereum Spot ETFs See $547M Inflows After Five Days of Outflows

According to SoSoValue, Ethereum spot ETFs recorded $547M in net inflows on Sept 29, ending five consecutive days of outflows. Fidelity’s FETH led with $202M, bringing its cumulative inflows to $2.714B, while BlackRock’s ETHA added $154M, reaching $13.312B in total inflows.

Ethereum spot ETFs now hold $27.544B in assets, accounting for 5.4% of ETH’s total market cap, with cumulative inflows exceeding $13.672B. This signals renewed investor confidence and fresh capital flowing back into ETH-related products.


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Coindesk, https://www.coindesk.com/business/2025/09/29/keel-debuts-as-sky-s-solana-focused-star-with-a-usd2-5b-roadmap-to-boost-rwas-and-defi
• Coindesk, https://www.coindesk.com/markets/2025/09/29/tokenized-gold-market-nears-usd3b-as-bullion-blasts-to-fresh-record-highs
• Panews, https://www.panewslab.com/articles/16faf2df-950d-40c4-bb7a-2cd59255c9cc

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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.