Gate Research: Gold Extends Rally to $4,189 | Tether Pays $300M to Celsius Wind-Down Team

Crypto Market Overview

• BTC (-1.68% | Current Price: 112,716 USDT): After a period of high-level consolidation, BTC saw a notable short-term rally, reaching a new local high and showing strong bullish momentum. Short-term moving averages (MA5, MA10) have turned upward and formed a bullish alignment, with the price holding steadily above MA30, suggesting potential for trend continuation. Trading volume expanded significantly during the rally, reflecting strong buying pressure and positive sentiment. If BTC can remain above the 111,000 USDT level, it may sustain its bullish structure and test higher resistance zones. However, rapid gains may invite profit-taking; a drop below short-term support with weakening volume could trigger a technical pullback. Overall, BTC remains in a strong upward channel, though short-term traders should stay cautious and manage risk appropriately.
• ETH (-2.89% | Current Price: 4,095 USDT): After a sharp decline, ETH found support at lower levels and staged a short-term rebound, forming a “dip-then-rise” pattern. Short-term moving averages (MA5, MA10) have flattened and started to turn upward but have yet to form a clear bullish crossover with MA30, indicating that rebound momentum is still building. The price is currently hovering near MA30, where short-term long and short positions are competing intensely. If ETH can hold above $4,150 with increased trading volume, the rebound may extend and re-enter an upward channel. Conversely, a drop below $4,000 could trigger renewed downside pressure. In general, market sentiment has improved after strong corrections, but the trend has not yet fully reversed.
• Altcoins: Most major altcoins recorded minor declines, with market sentiment leaning “neutral” to “buy.” The Fear and Greed Index stands at 34, remaining in the “fear” zone, indicating cautious investor sentiment.
• Macro: On October 14, the S&P 500 fell 0.16% to 6,644.31 points; the Dow Jones rose 0.44% to 46,270.46; and the Nasdaq dropped 0.76% to 22,521.70. As of 2:50 AM (UTC) on October 15, spot gold traded at $4,189 per ounce, up 1.14% in 24 hours.

Trending Tokens

BAS – BAS (+132.85%, Circulating Market Cap: $271M)

According to Gate market data, the BAS token is currently quoted at $0.112, up approximately 132.85% within 24 hours. BAS is the on-chain native verification and reputation layer. It enables composable on-chain KYC, identity, and asset verification, applicable to real-world assets (RWA), decentralized finance (DeFi), AI agents, and other scenarios. By integrating KYC data, asset proofs, on-chain behavior, social activity, and community contribution, BAS builds a verifiable human reputation profile.

BAS experienced a strong surge over the past 24 hours, with gains significantly outperforming the market average, mainly driven by multiple favorable factors. First, the overall market sentiment has clearly improved, with risk appetite rising; some funds shifted from major assets to small- and mid-cap tokens seeking higher returns, making BAS one of the key targets for capital inflow. Second, the project team recently announced new ecosystem partnerships and technical progress, strengthening market confidence in its long-term development, which in turn boosted community enthusiasm and trading activity. Meanwhile, trading volume expanded significantly, and short-term capital showed strong buying momentum, forming a healthy “price-and-volume rising together” structure.

COAI – ChainOpera AI (+52.08%, Circulating Market Cap: $2.74B)

According to Gate market data, the COAI token is currently quoted at $1.4889, up 52.08% in 24 hours. ChainOpera AI is a blockchain-based full-stack AI platform aimed at achieving collaborative intelligence through a community-created and owned network of AI agents and models. It integrates three core functionalities: AI applications for end users, a developer platform for creating agents, and a decentralized infrastructure layer for models and GPU resources—all built on a unified protocol.

COAI showed a strong rally over the past 24 hours, with gains significantly ahead of other AI-sector tokens. The surge was mainly driven by the project’s active community engagement and the advancement of ecosystem partnerships. Short-term capital flowed in intensively, trading volume expanded significantly, and prices quickly broke through previous consolidation zones. Technically, COAI has successfully stood above key moving averages, with short-term averages forming a bullish alignment, indicating that bullish momentum continues to strengthen. Market sentiment remains high, speculative buying is active, and short-term upward movement is well supported.

SAPIEN – SAPIEN (+59.42%, Circulating Market Cap: $44.47B)

According to Gate market data, the SAPIEN token is currently quoted at $0.1786, up approximately 59.42% in 24 hours. Sapien is an open protocol for large-scale acquisition of verified human knowledge. Its network consists of millions of contributors across more than 100 countries and regions, covering groups such as doctors, engineers, artists, and students.

SAPIEN showed a notable upward move in the past 24 hours, performing actively in the small- and mid-cap sector. The rally was mainly driven by the market’s growing attention to the intersection of decentralized social (DeSoc) and AI themes. As related concepts regained popularity, SAPIEN—as one of the early players—was boosted by both capital inflows and community enthusiasm. Trading volume rose in tandem, short-term bullish sentiment intensified, and prices quickly broke through previous resistance zones. Technically, short-term moving averages (MA5, MA10) crossed above mid- to long-term averages, forming a bullish structure; the price returned to an upward channel with clear momentum release. If subsequent volume remains strong and prices hold above the breakout zone, SAPIEN is likely to continue its rebound trend. However, attention should be paid to potential high-level profit-taking and short-term volatility.

Alpha Insights

Tether Pays $300 Million to Celsius Wind-Down Team to Settle Bankruptcy Dispute

Stablecoin issuer Tether has agreed to pay $300 million to the Blockchain Recovery Investment Consortium (BRIC), jointly established by GXD Labs and VanEck, to resolve bankruptcy claims related to the defunct crypto lending platform Celsius Network. The settlement was reached in the U.S. Bankruptcy Court for the Southern District of New York, concluding a months-long dispute involving claims as high as $4 billion.

According to BRIC, this recovered capital represents a major achievement in its strategy to “maximize asset recovery in digital asset bankruptcies.” The consortium continues to manage illiquid and litigation-related assets connected to Celsius. Celsius was one of the most notorious bankruptcies during the 2022 crypto winter and completed its liquidation last year, having distributed over $3 billion to creditors.

After Bitcoin’s Leverage Flush, the Market Enters a Phase Favorable for Accumulation

On Tuesday, the crypto market came under broad pressure, with Bitcoin and major altcoins experiencing significant pullbacks. However, market sentiment improved after Federal Reserve Chair Jerome Powell gave slightly dovish remarks. Powell stated that the labor market is gradually cooling and employment risks are rising, implying that another rate cut may be expected later this year. As a result, risk assets received some support. Bitcoin fell to a low of $109,800 before rebounding to around $112,600, narrowing its 24-hour decline to 2.8%. Ethereum fell by about 4%, while BNB, XRP, and DOGE declined between 4% and 6%. The CoinDesk 20 Index fell by 3.2%.

Some researchers believe that the recent leverage flush represents a “healthy adjustment” for the market, helping to absorb excessive speculative exposure and establish a more solid support zone for Bitcoin. They argue that the large-scale deleveraging last week significantly reduced the market’s risk leverage ratio, creating room for subsequent capital reallocation. Although liquidity may remain tight in the short term and traders need time to recover from forced liquidations, historically, similar massive clearing events often signaled the formation of short-term market bottoms.

Base Token to Be Launched, Committed to Building an Interconnected Ethereum Ecosystem

At the BaseCamp 2025 conference hosted by Base, co-founder Jesse Pollak stated that Base is currently in the early stages of exploring the possibility of issuing a native token, while reaffirming the team’s vision of interconnectivity and its commitment to building on Ethereum. Pollak noted that there is no specific launch timeline or token design yet, but publicly discussing token plans marks an important turning point in Base’s development path.

According to Cointelegraph and other media reports, this move is believed to pave the way for greater decentralization and to incentivize community and ecosystem growth. Meanwhile, the Base team announced plans to launch a Solana bridge to strengthen cross-chain connectivity, aiming to make Base a hub for inter-chain interoperability rather than an isolated network. Media commentary also noted that this shift marks Base’s transition from a “no-token strategy” to an active “tokenization exploration.”


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Coindesk, https://www.coindesk.com/policy/2025/10/14/celsius-wind-down-secures-usd300m-from-tether-say-gxd-labs-vaneck
• Coindesk, https://www.coindesk.com/markets/2025/10/14/bitcoin-s-leverage-flush-favors-accumulation-k33-says
• X, https://x.com/Cointelegraph/status/1978310134947344567

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