Announcements Gate Research: BTC Retraces After Testing $60,000; MakerDAO's Plan to Close WBTC Lending Sparks Market Concerns

Gate Research: BTC Retraces After Testing $60,000; MakerDAO's Plan to Close WBTC Lending Sparks Market Concerns

2024-08-13 13:43:12 UTC 10314 Read

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**Gate Research Daily Report:** August 13—BTC attempted to break through $60,000 but then pulled back, entering a period of volatility. Ethereum's daily burn rate and Bitcoin miner revenue both hit year-to-date lows. The Fear and Greed Index is in the fear zone, suggesting that investors should be cautious of potential downside risks. The modular blockchain sector and Trump-themed meme coins performed strongly, underscoring the rapid shifts in market trends.

**Market Review**: Yesterday, BTC price quickly rebounded after dropping below $58,000, with a one-hour candlestick closing at +3.68%. The price then fluctuated between $58,000 and $60,000.
**Top Performers**: Over the past 24 hours, the modular blockchain, BTC inscriptions, and Trump-themed meme coin sectors saw significant gains.
**Spotlight Analysis**: Ethereum's daily burn rate hit a year-to-date low, with Layer 2 solutions becoming the primary hub for ecosystem transactions.
**Data Highlights**: Bitcoin spot ETFs saw a net inflow of $27.87 million, while Ethereum spot ETFs experienced a net outflow of $4.93 million yesterday.
**Market Opportunities**: Several projects, including Chibi Clash, SuiNS, and Orderly Network, announced airdrops or revealed their tokenomics designs.

Explore today's details  👉🏻 [Gate Research: BTC Retraces After Testing $60,000; MakerDAO's Plan to Close WBTC Lending Sparks Market Concerns](https://www.gate.io/learn/articles/gate-research-btc-retraces-after-testing-60000-makerdaos-plan-to-close-wbtc-lending-sparks-market-concerns/3785?ch=GDR_ann_20240813&utm_campaign=TR_9ouj6j3M&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=)

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August 13th, 2024

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