Gate Research: ETF Support Holds but Momentum Weakens, World Expands into Enterprise with World ID

On April 20, BTC and ETH both pulled back, with the market showing limited upside momentum and smoother downside moves. The Fear and Greed Index fell to 29 and remains in the fear zone. Sentiment has improved at the margin but is still not strong enough to support a sustained trend rebound. Capital is mainly focused on short term trading and sector rotation. On the tape, small cap and thematic tokens remained selectively active. WOJAK, AITECH, and PIEVERSE posted strong gains, though with elevated volatility risk. Market narratives are centered on World launching a new generation of World ID for enterprise identity verification, Monad advancing tokenized stock trading to expand RWA transaction infrastructure, and Hong Kong Web3 Festival shifting its focus toward stablecoins, payments, and AI plus Web3 application use cases.