Bitget Research: BTC Spot ETF Ends Seven-Day Streak of Net Outflows as AI Sector Makes a Strong Rebound
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Bitget Research: BTC Spot ETF Ends Seven-Day Streak of Net Outflows as AI Sector Makes a Strong Rebound
In the past 24 hours, several new trending cryptocurrencies and topics have emerged in the market, which could very well represent the next wealth-building opportunities.
Navigating Web3 tides with focused insightsAuthor: Bitget Research
Summary
Weaker-than-expected U.S. April non-farm payroll data boosted market expectations for rate cuts, prompting BTC to rebound starting last Friday. During the broader market recovery, AI sector tokens surged across the board with strong performance. Today, ETH chain gas fees dropped below 5 gwei, and on-chain activity on ETH reached a freezing low.
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High wealth-generation potential sectors: AI sector;
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Sectors requiring close attention going forward: MEME sector;
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User’s most searched tokens & topics: PalioAI, fantasy.top, Golem, RNDR;
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Potential airdrop opportunities: PalioAI, fantasy.top;
Data collection time: May 6, 2024, 4:00 (UTC+0)
1. Market Environment
The U.S. added only 175,000 non-farm jobs in April—lower than expected—and the unemployment rate rose, boosting market expectations for interest rate cuts. BTC spot ETFs ended seven consecutive days of net outflows, recording $378 million in net inflows last Friday, driving BTC-led market recovery. The ETH/BTC exchange rate once again fell below 0.05, while Grayscale's ETH fund showed a negative premium rate of -24.78%, indicating market skepticism that an ETH spot ETF is unlikely to be approved in May.
During the BTC-led market rebound, the AI sector exhibited the strongest recovery. Market anticipation surrounding the rumored June launch of ChatGPT-5 and Apple’s Worldwide Developers Conference on June 10 could further boost the AI sector.
2. Wealth-Generating Sectors
1) Sector Movement: AI Sector (AR, ARKM, WLD, RNDR, etc.)
Main reasons:
In several recent market rebounds following downturns, the AI sector has consistently shown strong momentum. Recently, multiple news events have provided catalysts for speculation within the AI sector.
(a) Web2 developments:
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Market rumors suggest OpenAI may unveil its ChatGPT-powered search product on May 9, competing directly with Google;
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ChatGPT-5 could be officially launched as early as June;
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Apple’s Worldwide Developers Conference will begin on June 10;
(b) Web3 developments:
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Worldcoin Foundation previously announced the launch of World Chain, a public blockchain, which may see new progress in the coming months; Worldcoin’s developer is also attempting collaborations with PayPal and OpenAI;
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The "Super AI Coin" ASI (merging FET, AGIX, OCEAN) is scheduled to merge in May.
Price Performance:
All AI-related tokens surged, with WLD, LAI, PHB, OLAS, ARKM, AR, RNDR, FET, and AGIX rising 13%, 20%, 18%, 16%, 15%, 12%, 11%, 10%, and 10% respectively over the past 24 hours. Among altcoins, the AI sector has repeatedly demonstrated stronger rebound strength after recent market dips.
Factors influencing future trends:
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Market validation of OpenAI-related rumors and the actual product performance of ChatGPT-5 upon release will directly determine AI sector热度;
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Whether the crypto world can leverage major mainstream AI events and continuously roll out positive product and branding news will determine the sustainability of price gains in this sector.
2) Sector to Watch Going Forward: MEME Sector
Main reasons:
In this market cycle, many well-funded infrastructure projects have underperformed post-launch: Merlin, Parcl, and others have fallen to roughly half their pre-launch prices. Meson Network, despite completing its final funding round at a $1 billion valuation, plummeted below $2 within days of TGE, down 80% from its $10 TGE price. Investors are no longer enthusiastic about "VC coins," shifting instead toward meme coin speculation. After recent market declines, some meme coins have reached relatively attractive price levels. Traders bullish on the meme sector may consider accumulating cheaper positions in preparation for the next meme season.
Specific token list:
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WIF: A next-generation top-tier meme coin that has listed on Binance and Robinhood, with a market cap surpassing OP and ARB, showing potential similar to SHIB’s breakout into the tens of billions during the previous bull run.
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BOME: One of the representative assets of the new Solana meme season. Currently, 50% of its supply is concentrated on Binance, making it highly likely to break ATH again when the next wave of meme mania begins.
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Other mid-tier popular memes (e.g., MEW, MANEKI): Both MEW and MANEKI distributed generous airdrops to Solana phone holders, attracting significant capital attention within the Solana ecosystem. Their prices have since dropped 54% and 67% from peaks. Traders optimistic about these tokens breaking ATH again may consider timely accumulation.
3. User Search Trends
1) Popular Dapps
PalioAI:
PalioAI is an AI-powered digital companion game launched by Xterio, built on the concept of digital ownership. It currently runs an “Odyssey Points” campaign, where points can be exchanged for airdrops within the XterioGames ecosystem.
Yesterday’s on-chain data showed a large number of Ethereum users minting PalioAI Gen0 NFTs, indicating growing user interest and preparations for future airdrops. Previously, blockchain game publisher Xterio secured a $15 million investment from Binance Labs to advance its AI and Web3 game development capabilities.
2) Twitter
fantasy.top:
fantasy.top, a SocialFi trading card game project on the Blast ecosystem, announced completion of its Pre-Seed round. Investors include Alliance, Manifold, Fabric Ventures, and thirty angel investors including Ryan Selkis, founder and CEO of Messari. Funding amount and valuation remain undisclosed. fantasy.top is a SocialFi collectible card game (TCG) allowing players to use tradable cards featuring crypto Twitter influencers, monetizing their social capital and research expertise.
3) Google Search & Regions
Global Overview:
Golem:
Among altcoins, the AI sector has consistently led rebounds after recent market drops. GLM, as a leading application in the AI space, is currently experiencing high热度, up 6% over the past 24 hours. On South Korea’s Upbit exchange, GLM recorded $232,630,207 in trading volume over the past 24 hours—topping all assets including BTC and major meme coins—highlighting strong wealth effects and high local demand.
Regional Search Trends:
(1) Yesterday’s search trends across different Asian regions showed strong divergence without clear patterns. For example, Philippines users searched BICO and WEN, Indonesian users looked up ETHFI and MSTR, while Indian users focused on ZKML and RWA.
(2) Western users show strong interest in AI: Terms like RNDR, TAO, and node AI frequently appeared in English-language search queries.
(3) Latin American users focus on mainstream popular coins: FLOKI, LINK, and SOLANA frequently appear in regional searches, reflecting a preference for established mainstream assets.
4. Potential Airdrop Opportunities
PalioAI
PalioAI is an AI-powered digital companion game launched by Xterio, based on digital ownership. It currently runs an Odyssey Points campaign, where accumulated points can be redeemed for airdrops within the XterioGames ecosystem. Recent on-chain data shows numerous Ethereum users minting PalioAI Gen0 NFTs, indicating growing awareness and preparation for upcoming airdrops.
Previously, blockchain game publisher Xterio secured a $15 million investment from Binance Labs to enhance its AI and Web3 game development capabilities.
How to participate: Visit the official website, add the Xterio network to your Web3 wallet; after bridging funds to Xterio, go to the official page to claim a Paliio Egg; successful claimers can then feed the egg—each interaction earns points.
Fantasy.top
Fantasy.top is a SocialFi collectible card game (TCG), allowing players to use tradable cards of crypto Twitter influencers in online games, monetizing their social influence and research skills.
The Blast-based SocialFi trading card game fantasy.top announced completion of its Pre-Seed round, backed by Alliance, Manifold, Fabric Ventures, and thirty angel investors including Messari founder and CEO Ryan Selkis. Funding amount and valuation remain undisclosed.
How to participate: Visit the fantasy.top official website, bridge funds via the provided method to the designated Blast wallet, purchase cards, and join tournaments.
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