Gate Research: Surging U.S. Treasury Yields Weigh on Rate Cut Expectations, The Crypto ETF Market Enters a Zero-Sum Competition Phase

Gate Research Daily Report: BTC briefly surged to around $77,313 over the past 24 hours before rapidly pulling back, while ETH faced resistance near $2,145 and subsequently drifted lower in a choppy range. ZEST skyrocketed more than 649% after being added to the Alpha listing of a major CEX, reflecting extreme speculative activity driven by the BTCFi narrative and low circulating supply dynamics; meanwhile, EDEN and PROMPT benefited from continued momentum in the RWA and AI Agent narratives, with strong trading volumes amplifying price action amid relatively thin liquidity conditions. Trump stated that he would give Kevin Warsh greater policy flexibility, while surging U.S. Treasury yields continued to dampen rate-cut expectations; Truth Social withdrew its Bitcoin ETF application, signaling that the crypto ETF market is increasingly entering a zero-sum competition phase. Meanwhile, Mastercard abandoned its planned investment in Zerohash and shifted toward BVNK to expand its stablecoin payment infrastructure strategy.