Gate market news today: BTC continues to pump, ETH leads the mainstream tokens, PENDLE, ZORA, ORCA have strong outbreaks.

Today (8th) the overall cryptocurrency market continues to show a rebound pattern, with Bitcoin (BTC) and Ethereum (ETH) both strengthening, and mainstream altcoins actively rotating. ETF funds continue to flow in, and the technical indicators are in long positions, boosting market sentiment. Popular tokens such as PENDLE, ZORA, and ORCA have seen significant gains in the past 24 hours, becoming the focus of capital pursuit. Below is a deep analysis of the latest market trends on the Gate platform.

BTC continues to advance, short-term focus on 117,600 resistance

(Source: Gate)

BTC has been rising since rebounding from the 114,000 USD area, currently stabilizing above the MA 5 and MA 10 in the short term. Although the MACD shows that the bullish momentum has slightly slowed down, there has not yet been a death cross. As long as the support at 116,000 USD is maintained, the market is expected to continue challenging the previous high of 117,600 USD. Attention should be paid to the increased trading volume but weakened upward trend; if it falls below 115,500 USD, it may face short-term adjustment pressure. On August 7, BTC ETF saw a net inflow of 280 million USD, with significant funds entering from BlackRock's IBIT and Fidelity's FBTC, supporting bullish confidence.

ETH leads the mainstream coins, with increased volume challenging new highs

ETH's trend is significantly stronger than BTC, with the MACD golden cross continuing, and short-term moving averages in a bullish arrangement, while trading volume continues to expand, indicating aggressive buying. If it can effectively break through the resistance level of 3,940, it will further open up upward space. Support below is focused on the range of 3,800 to 3,750, and as long as it holds above, a bullish outlook is maintained. On August 7, ETH ETF saw a net inflow of 222 million USD, with significant inflows into BlackRock's ETHA and Fidelity's FETH, indicating an increase in institutional participation.

Altcoin rotation intensifies, market sentiment is optimistic

Mainstream alts have generally risen with the market rebound, and the Fear and Greed Index has risen to 74, indicating optimistic market sentiment but a clear structural rotation pattern. Investors need to pay attention to the capital switching between sectors and flexibly adjust their positions.

Popular Token Dynamic Analysis

PENDLE (+28.4%): Currently priced at 5.171 USD, with a circulating market cap of 859 million USD. Recently, Pendle launched the HyperEVM yield pool on Hyperliquid, surpassing 100 million USD in TVL, with a fixed annualized rate of up to 9.86%, attracting significant liquidity. The community is actively discussing the leverage strategy for PT-USDe on Aave, with capital inflows and innovative applications becoming catalysts for the pump.

ZORA (+34.2%): Currently reported at 0.082993 USD, with a circulating market cap of 290 million USD. Zora focuses on the decentralized content economy and recently collaborated with Base and creator Jacob Horne to launch a discussion video to promote community engagement and platform activity. The collaboration project with Polcom further enhances Zora's market popularity.

ORCA (+21.1%): Currently priced at 2.6321 USD, with a circulating market cap of 156 million USD. As a core DEX of the Solana ecosystem, Orca's recent Launchpad product Wavebreak has been included by Birdeye, increasing its exposure. The community is promoting buyback and staking proposals while strengthening collaboration with Switchboard oracles to further solidify its ecosystem position.

Conclusion

Today, Gate's market shows that BTC and ETH are leading the pump, with altcoins experiencing intensified rotation, and market sentiment is clearly warming up. Popular tokens like PENDLE, ZORA, and ORCA have surged strongly due to favorable fundamentals and capital inflow. Investors should continue to pay attention to the key support and resistance levels of mainstream coins and seize trading opportunities brought by sector rotation and new themes.