Gate Ventures: Year-end portfolio adjustments dominate market sentiment; structural narrative sectors outperform.

According to Gate Ventures' latest weekly crypto report, the crypto market's sensitivity to risk changes has increased due to year-end funding adjustments and shifts in macroeconomic expectations. The Fed cut interest rates by 25 basis points again and released a dovish signal, providing support for liquidity, but overall risk appetite remains cautious, with major assets maintaining range-bound trading. In terms of market performance, Bitcoin fell 2.47% for the week, Ethereum remained largely flat, and the ETH/BTC ratio rebounded slightly. However, the Fear & Greed Index remained in the "extreme fear" range, reflecting weak short-term sentiment. Amidst this overall pressure, some narrative sectors performed exceptionally well. Mantle rose nearly 18% this week, boosted by news of AI trading and liquidity collaborations; meanwhile, progress such as the Solana Firedancer mainnet launch shows that Web3 underlying performance and interoperability infrastructure are still advancing. In terms of venture capital, total disclosed funding this week slightly decreased to $188 million, with funds mainly concentrated in infrastructure, artificial intelligence, and liquidity abstraction. Gate Ventures points out that as macroeconomic uncertainty and year-end rebalancing continue to influence market behavior, the cryptocurrency market is likely to continue its range-bound trading in the short term. Projects with clear purpose, lasting demand, and infrastructure-level relevance are expected to be more likely to attract sustained capital attention.