#我在Gate广场过新年 【Major Market Events】What Are the Recent Positive Factors in the Crypto Market

In recent days, despite ongoing volatility, some positive signals have emerged in the crypto market. These favorable factors mainly stem from macro data cooling, increased regulatory clarity, continued institutional buying, and technical bottoming signs. These factors may support a short-term rebound, but caution is needed regarding risks from macro uncertainties (such as Federal Reserve policies and geopolitical issues). Note that the market is still in the late stage of the “crypto winter,” and these positives are not immediate catalysts for a bull run.

1. Macro Environment
On the macro level, lower-than-expected inflation data has become a key positive, easing fears of a “hard landing” and boosting expectations of Fed rate cuts. This helps restore liquidity in risk assets like cryptocurrencies.
In January, US core CPI fell to 2.6% (below the expected 2.7%), and headline CPI dropped to 2.4%, triggering a market rebound. Combined with strong employment data (130,000 new jobs in January, unemployment rate at 4.3%), this alleviates recession narratives and may accelerate a risk-on sentiment.
The market expects a 68% chance of rate cuts in April, and the FOMC meeting could inject optimism. Global liquidity has improved, and institutions see this as a buying opportunity.

2. Policy
Regulatory clarity is becoming more apparent, which is a long-term positive, reducing uncertainty and attracting institutional funds. Recent developments include progress at both US and global levels.
The US Crypto Market Structure Act (CLARITY Act) is expected to introduce clearer regulation by 2026, and the White House is pushing for discussions on stablecoin yield exemptions (initially open to banks). Although Coinbase’s withdrawal of support caused delays, this is seen as a “done deal,” potentially unlocking trillions of dollars in liquidity.
New crypto leaders (such as Coinbase, Ripple, Solana) added to the CFTC advisory committee are promoting clearer regulations, boosting market confidence. This is expected to lift BTC/ETH prices within a few months.
Some countries or regions outside the US are also advancing compliance and regulatory frameworks for digital assets, indicating a move toward a more regulated environment. For example, Hong Kong’s HKMA will issue its first stablecoin licenses next month; the SEC has closed its investigation into Zcash without enforcement action, providing clarity. These reduce regulatory haze and facilitate institutional entry.

3. Institutions
Institutional participation remains strong. Despite market downturns, a “buy-the-dip” strategy persists, supporting a bottom.
Goldman Sachs holds $2.3 billion via ETFs; Pantera Capital has been buying BTC in batches at 84,000, 63,000, and current levels. Bitwise CIO notes that ETF investors are holding firm, and institutional inflows are resuming.
Participation in DeFi and altcoins continues, with institutions buying DeFi tokens; TON wallet natively supports BTC/ETH, promoting real-world adoption.
Institutions see the $60,000–$64,000 range as a value zone, contrasting sharply with retail panic. Market trading volume is predicted to reach $1.33 billion, indicating growth in on-chain tools.

4. DAT Treasury Companies
DAT (Digital Asset Treasury) companies are publicly listed firms that hold crypto assets as part of their treasury (e.g., MicroStrategy, BitMine). Although recent price declines have caused paper losses, the evolution of the DAT model is viewed as positive.
DAT 2.0 model is expected to shift from simple accumulation to professional trading, storage, and blockchain space procurement by 2026, viewing blockchain space as a digital economy commodity. This expands the buyer base and attracts more institutional exposure.
Despite some firms like FG Nexus selling 10,000 ETH to buy back shares, overall holdings remain resilient, such as Strategy holding $9.2 billion in losses but not selling. This demonstrates resilience and offers leverage return opportunities.
DATs allow cautious investors to gain indirect crypto exposure through regulated companies, with potential further integration of stablecoins by 2026.

5. ETF Capital Inflows
The recent resurgence of ETF inflows is the biggest positive, indicating that institutional investors are readjusting positions and beginning to buy crypto assets again. This suggests risk sentiment may be easing, and institutions remain interested in the long-term value of assets like BTC. It helps stabilize prices and gradually improve market sentiment.
BTC ETFs: Net inflows of $145 million and $371 million on Feb 13-14 reversed previous outflows. BlackRock led with inflows of $648 million (the largest since October). Total inflows have reached $54 billion.
Other ETFs: XRP ETFs have seen six consecutive days of net inflows totaling $16.79 million (cumulative $1.26–$1.3 billion), indicating a rotation from BTC/ETH to XRP. ETH/SOL ETFs experienced some outflows but remain overall stable.
The recovery of ETF capital inflows suggests institutional investors believe the market is near or has already stabilized.

6. Technical Analysis
Technical indicators show signs of bottoming, with rebounds following deleveraging, often characteristic of the “bottoming phase,” i.e., “diminished downward momentum followed by a rebound.”
BTC rebounded from $65,000 to $70,000, up 4.7%; ETH rebounded to $2,150, up 6.8%. Open interest decreased by 28–39%, indicating orderly deleverage (not capitulation); funding rates are negative, with liquidations of $109 million and $56 million shorts. Long-term holders’ selling pressure has decreased.
Approaching the 200-week moving average and realized price, providing a strong entry point.

7. On-Chain Activity
Legal victory for Uniswap enhances DeFi narrative.

Summary
These positives may push the market from “extreme fear” toward neutrality, but confirmation from multiple factors (such as subsequent CPI data and CLARITY Act progress) is needed to confirm a bottom.
Overall, although the market still faces volatility and risks, recent ETF capital inflows, renewed institutional positioning, technical rebound signals, and diversified asset growth form the main positive logic for the recent crypto market.