Gate today's market: BTC stabilizes, ETH overbought, MemeCore surges leading alts.

In the past 24 hours, the Crypto Assets market has shown a divergent trend. BTC slightly fell by 0.19%, but the volume increased, indicating heightened market activity. Technically, BTC has stabilized at the support level of $114,000, with an RSI of 43 indicating an oversold range. Although the MACD has shown a positive crossover, momentum is weakening. Investors are following whether BTC can break through the resistance of $120,000 to confirm a new round of pumps. On August 4, there was an outflow of $323 million from BTC ETFs, with IBIT having an outflow of $292 million and FBTC an outflow of $40.1 million, reflecting some funds taking short-term profits.

ETH has risen 2.39% in the past 24 hours despite the market trend. Technical indicators show an RSI of 72, entering the overbought zone, and the MACD has issued a sell signal, but the moving averages still support a bullish trend. Market sentiment is optimistic, but there may be short-term pullback pressure, with a focus on the $3,400 support level and $4,000 resistance. On August 4th, the net outflow of ETH ETFs was $465 million, with BlackRock's ETHA experiencing an outflow of $375 million, while Fidelity's FETH recorded a net inflow of $55.1 million.

In terms of altcoins, there has been a general rise in the past 24 hours, but the Fear and Greed Index reports 60, indicating a cooling of market optimism and a shift towards cautious investor sentiment.

On a macro level, on August 4th, the three major U.S. stock indices rose together, with the S&P 500 index increasing by 1.47% to 6,329.94 points, the Dow Jones up by 1.34%, and the Nasdaq up by 1.95%. The spot gold price is reported at 3,373 USD, with a slight increase of 0.01% over the past 24 hours.

Hot Token Focus

MemeCore (M): +28.36%, circulating market cap 897 million USD

MemeCore (M) has surged 28.36% in the past 24 hours, priced at 0.567 USD, becoming today's biggest dark horse. As a Layer 1 public chain compatible with the Ethereum Virtual Machine (EVM), MemeCore adopts an innovative "Meme Consensus Mechanism (PoM)" that allows users to stake meme coins in a multi-chain environment to earn dual block rewards. The mainnet is set to launch in February 2025, and recently it acquired a KOSDAQ listed company in South Korea, also initiating a $5.7 million prize pool trading competition, driving a surge in market activity and volume.

Mantle (MNT): +15.42%, Circulating Market Cap 2.764 billion USD

Mantle (MNT) has risen 15.42% in the last 24 hours, priced at $0.821. Mantle focuses on the construction of a global on-chain financial hub, relying on core products such as the mETH protocol and FBTC, along with a large community treasury to ensure liquidity and financial stability. Recently launched the "Mantle Tide" 9-day reward event, with on-chain daily active users surging to 123,000, and TVL increasing by 47% to $1.4 billion, both becoming important drivers of the price increase.

Litecoin (LTC): +8.62%, circulating market cap 9.219 billion USD

Litecoin (LTC) has risen 8.62% in the last 24 hours, priced at 121.07 USD. As a lightweight alternative to Bitcoin, LTC features faster block generation times and a higher supply, earning it the title of "digital silver." This recent rise has benefited from KOL promotion, technical breakthroughs, and increased volume, with market sentiment being positive.

Conclusion

Overall, BTC has stabilized at 114,000 USD, ETH has entered the Oversold zone, and the popularity of altcoins continues to rise. MemeCore leads the market, while Mantle and Litecoin strengthen simultaneously. Short-term volatility has intensified, and investors are advised to closely monitor technical indicators and market sentiment changes, flexibly adjust their positions, and seize trading opportunities.