Gate Research: Market Stays in Weak Recovery Mode｜Event Catalysts Drive Altcoin Rotation

On November 20, the crypto market continued to consolidate and oscillate amid sustained extreme fear sentiment, with BTC edging up 0.43% to 92,700 USDT and ETH recovering to 3,040 USDT. Among hot tokens, Tensor (+102.63%) surged sharply due to a short squeeze triggered by extreme negative funding rates; Giga Chad (+61.29%) strengthened amid high social media buzz from whale endorsements and Walmart listing related supplements; StarkNet (+22.63%) rebounded significantly, driven by the spreading "Ztarknet" narrative and expectations of ZK infrastructure implementation. Vitalik released a key signal at Devconnect that "Ethereum needs to complete its quantum-resistant upgrade within the next four years." NVIDIA's strong earnings beat expectations, propelling a U.S. stock rebound and short-term crypto market repair. Meanwhile, a $1 billion ETH DAT trust plan led by Asian capital has been temporarily shelved due to fundraising resistance and market volatility.