Gate Research: Mainstream Altcoins Show Mild Recovery | Bitcoin Mining Profits Hit Historic Lows

Crypto Asset Overview

BTC (+0.25% | Current price 91,878 USDT)

After finding support near $83,800, BTC began a gradual rebound on December 2 and moved up to the $91,000–$93,000 range, with the short-term structure clearly strengthening. For moving averages, MA5 and MA10 quickly crossed above MA30, forming a short-term bullish arrangement, indicating the market has entered a phase of rhythmic recovery after a significant drop. Although the rebound slope is steep, BTC has not yet broken through the resistance zone above $93,000. The price needs to remain stable at $91,500–$92,000 to consolidate the short-term bullish advantage. The MACD saw a strong golden cross on December 2, with the red bars expanding significantly, representing a substantial improvement in buying momentum compared to the previous period. However, as BTC approaches the $93,000 high, the red bars have started to shrink, indicating that buyers are becoming cautious. If BTC can maintain a high-level sideways move and hold above $90,500, there is still a chance to challenge $94,000; if it loses the $89,500–$90,000 range, the short-term rebound structure may weaken and retest support at $87,500.

ETH (+0.23% | Current price 3,010 USDT)

ETH saw quick buying support after dropping to the $2,720–$2,750 range and began a steady recovery from December 2. The price has reclaimed the key $3,000 level, signaling improved sentiment. For moving averages, MA5 and MA10 have started to turn upward and have both crossed above MA30, showing ETH’s short-term trend has shifted from weakness to a recovery phase, with a structure roughly in sync with BTC. The MACD indicator also shows a golden cross, with the red bars rising sharply and continuing to expand, indicating strengthening bullish momentum. However, as it approaches the $3,090 short-term resistance zone, the bars have started to converge mildly, meaning capital is in wait-and-see mode and short-term consolidation is possible. If ETH can hold steady above the $2,980–$3,000 range, the recovery trend can continue; if it falls below $2,950, it may drop again to test support at the $2,880 area.

GT (+0.10% | Current price 10.28 USDT)

After previously falling below the $10 mark, GT was among the first to show a rebound signal on December 2, forming a short-term bottom near $9.5. The subsequent rebound pushed the price back to the $10.2–$10.5 range, stabilizing earlier than major coins. For moving averages, MA5 and MA10 quickly turned up and crossed above MA30, forming a complete short-term recovery structure, indicating clear buying support at the lows. After the MACD turned into a golden cross on the evening of the 2nd, the red bars continued to expand, and bullish momentum remained relatively stable, showing a healthy short-term buying structure. However, the price is still facing previous highs resistance at $10.5–$10.8, and after several failed attempts to break through, there has been a mild pullback. If GT can hold the $10.1–$10.2 support, there’s still a chance to challenge $10.8 again; if it falls back below $9.9, the short-term rebound may enter a consolidation phase or even weaken again.

Top Daily Movers

In the past 24 hours, with the Fear Index holding at 28, overall market sentiment remains cautious. While there has been some improvement from the extreme fear levels of yesterday and last week, risk appetite is still low. Within this sentiment framework, major altcoins have instead seen moderate recoveries, with SOL leading major assets with a single-day gain of over 9%, and XRP also posting a notable rebound—showing that some capital is making structural re-entry at the lows.

PIEVERSE Pieverse (+78.22%, Circulating Market Cap $112M)

According to Gate market data, the current price of PIEVERSE token is $0.62320, up about 78.22% in 24 hours. Pieverse is an interactive Web3 entertainment and application ecosystem built around “on-chain AI Agents,” aiming to combine AI companions, NFT identities, and an extensible on-chain behavior system to create a sustainable, evolving virtual social and gamified world. Core products include ERC-8004 standard Agent NFTs, cross-application interactive identity systems, and an AI Agent tool stack for developers, enabling users to own trainable, upgradeable, task-executing exclusive AI agents on the blockchain.

The sharp price increase this round was likely driven by the official announcement of the Purr-Fect Agent campaign, recruiting the first 1,000 NFT holders and garnering significant market attention. The announcement quickly spread on social media, and the related NFT series, as the initial entry point for on-chain AI Agent identities and functions, led to a surge in token demand. Additionally, Pieverse adopts the x402b on-chain execution standard and is set to launch more AI Agent functions soon, including automated tasks, ecosystem interactions, and cross-application behaviors—raising community expectations for application rollout speed and future extensibility. The project has also gained substantial social momentum, and with a relatively small market cap at low levels, capital has quickly concentrated under the catalyst of sentiment, further amplifying the price surge.

LIGHT Bitlight Labs (+44.35%, Circulating Market Cap $67.36M)

According to Gate market data, the current price of LIGHT token is $1.6412, up 44.35% in 24 hours. Bitlight Labs is an infrastructure project focused on Bitcoin scaling and building the RGB protocol application layer, aiming to provide a composable, scalable environment for transactions and applications across Bitcoin, Lightning Network, and RGB protocol.

Recently, Bitlight Labs announced key progress in native RGB DEX experience, officially launching a cross-chain/layer trading mechanism that combines PayJoin + RGB20 assets, enabling unified liquidity and asset interactions across Bitcoin, Lightning, and RGB ecosystems. This news has significantly boosted market attention on the RGB ecosystem and Bitcoin scaling sector, making LIGHT a focus of capital inflow. Moreover, the overall heat of the RGB sector is rising, and with the strong overlapping effect of the Bitcoin ecosystem (BRC20, Runes, Ordinals), market demand for “Bitcoin L2 + BTC native asset trading” is being rapidly released.

PARTI Particle Network (+33.05%, Circulating Market Cap $32.3M)

According to Gate market data, the PARTI token is now trading at $0.14032, up about 33.05% in 24 hours. Particle Network is a platform committed to building modular account systems and chain abstraction for native Web3 infrastructure, with the core goal of enabling users to enter a multi-chain world with Web2-level smoothness. Its flagship product, Universal Accounts, unifies asset balances, abstracts cross-chain gas, and eliminates chain-switching in account logic, allowing users to seamlessly manage and transact multi-chain assets across EVM, Solana, and more, all with the same account.

Recently, Particle Network has released several key updates, driving the latest price surge. On one hand, the official announcement that Universal Accounts now officially support Monad means users can directly manage and trade without chain switching, making Particle a key entry component for the Monad ecosystem. Meanwhile, Magic Labs announced its API wallet is now fully compatible with Universal Accounts, allowing developers to generate wallets across multiple chains and unify asset and gas logic, further expanding Particle’s developer network. Multiple positive developments, ongoing ecosystem partnerships, and a stronger narrative for the chain abstraction sector have together increased market demand and expectations for PARTI.

Hotspot Analysis

Bitcoin Mining Profits Hit Historic Lows, Miners Face Comprehensive Squeeze

Due to the continued decline in hashprice, Bitcoin mining profits have fallen to historically rare lows, with current hashprice around $35/PH/s, far below this year’s highs and significantly compressing the profit margins for most miners. With the median hashcost for many listed mining companies close to $44/PH/s, the market as a whole is entering a “near break-even” state. Cost pressures stem mainly from rising energy prices, skyrocketing difficulty, and competitive concentration of hashpower, resulting in a steady decline in the number of BTC mined per unit of hashpower. Mining companies must rely on scale, low electricity costs, and efficient mining equipment to maintain their advantage.

Against this cyclical backdrop, the industry is showing clear differentiation. Miners with stronger capital are accelerating the replacement of old equipment, locking in long-term low-cost electricity, and investing in air/liquid-cooled data centers to further reduce marginal costs. In contrast, small and mid-sized miners are facing cash flow deterioration, risking shutdowns, selling miners, or even liquidation, all of which is accelerating industry consolidation. If BTC prices do not rebound in the short term or difficulty continues to rise, the mining industry will enter a deeper phase of shakeout, forcing miners to rely on alternative income streams (such as AI training compute leasing, hosting services, and energy arbitrage) to maintain financial stability. Overall, current mining profit levels are at historic lows, and the market is entering a deep reshuffling period characterized by high costs and fierce competition.

Tether Data Launches QVAC Fabric LLM, Redefining Low-Barrier Local AI Development

Tether Data has announced the release of QVAC Fabric LLM, a new comprehensive large language model inference runtime and fine-tuning framework specifically designed for “everyday hardware AI.” Unlike traditional solutions that rely on specialized compute, QVAC Fabric LLM can run, train, and customize large language models directly on consumer GPUs, laptops, and even smartphones, making local AI development accessible to the public rather than reserved for those with expensive setups. The framework further extends the llama.cpp ecosystem, adding fine-tuning support for major models such as Llama3, Qwen3, and Gemma3, allowing developers to build specialized models in a lightweight manner without relying on cloud GPUs or closed ecosystems from single hardware vendors.

In terms of hardware compatibility, QVAC Fabric LLM supports AMD, Intel, NVIDIA, Apple Silicon, and mobile chip architectures, emphasizing that AI training and inference need not be limited to any particular manufacturer. Tether Data has officially open-sourced the project under the Apache 2.0 license and offers cross-platform binaries and ready-to-use adapters on Hugging Face; developers can start fine-tuning with just a few commands, greatly lowering technical barriers for model customization. Overall, this is not only a positive reinforcement for the open-source AI community but also marks a further increase in the importance of local compute and lightweight AI in the future ecosystem.

Flow Accelerates Native Protocol Deployment, Enters Credit Market First and Expands to Derivatives Sector

The Flow Foundation recently stated that the team is developing a series of key native built-in protocols, with the credit market as the core focus of the first phase. Compared to its previous positioning focused on NFT and entertainment ecosystems, this move signals that Flow is proactively expanding into deeper financial infrastructure, seeking to fill its long-standing gap in the DeFi space. The official roadmap also reveals that perpetual contracts, prediction markets, and other high-demand protocol modules will be gradually added, enabling Flow to form a complete on-chain financial system from spot and lending to derivatives, increasing capital efficiency and fund retention rate—an important step for Flow, whose on-chain activity has so far been relatively low.

Meanwhile, Dapper Labs has launched Peak Money, a consumer finance flywheel application, aiming to integrate multi-chain yield opportunities and provide users with an easier yield entry point. The launch of Peak Money not only strengthens the ecological synergy between Flow and Dapper but also seeks to tap a broader user base with the combination of “cross-chain yield integration + consumer finance applications.” Overall, Flow is transitioning from a “content-driven chain” to a “financial infrastructure chain.” By integrating native protocols and application-layer products, it is expected to improve ecosystem activity and attract more developers and liquidity in the next cycle.
References:

• Gate, https://www.gate.com/trade/BTC_USDT](https://www.gate.com/trade/BTC_USDT](https://www.gate.io/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](https://investing.com/indices/usa-indices](https://investing.com/indices/usa-indices))
• Investing, https://investing.com/currencies/xau-usd](https://investing.com/currencies/xau-usd](https://investing.com/currencies/xau-usd))
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• X, https://x.com/Cointelegraph/status/1995946125136719920?s=20
• Tether, https://tether.io/news/tether-data-introduces-qvac-fabric-llm-the-edge-first-llm-inference-runtime-and-generalized-llm-lora-fine-tuning-framework-for-modern-ai-models-on-heterogeneous-gpus-smartphones-laptops-and-server/
• X, https://x.com/flow_blockchain/status/1995855508780011770?s=20

[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and cryptocurrency research platform, providing readers with in-depth content, including technical analysis, hot topic insights, market reviews, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer Investing in the cryptocurrency market involves high risk. Users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate assumes no liability for any loss or damage arising from such investment decisions.