Gate today's market analysis: Bitcoin must break 115,000 USD to confirm the Rebound, ANI, ENA, and INIT lead the pump in the alts market.

Bitcoin (BTC) has recently dipped from a high of $119,000, falling below the key support level of $115,000. It then oscillated between $112,000 and $114,000, attempting to find support and build a base. Currently, the price has gradually stabilized and rebounded to around $114,689.8. $112,000 constitutes a phase bottom support, which is key to maintaining the rebound trend; while $115,000 is the current major resistance. If it can effectively break through and hold above, it will open up space for further rebounds.

On August 1, Bitcoin ETF experienced a net outflow of $812 million in a single day, with BlackRock's IBIT seeing an outflow of $2.6 million and Fidelity's FBTC seeing an outflow of $331 million.

Ethereum (ETH) has experienced a significant fall in the past few days, entering a small fluctuation range after reaching a temporary low, attempting to build a bottom. Currently, the trend is gradually showing signs of an upward breakout, with the price approaching a key resistance area—around $3,534.26. This area has previously acted as support during the fall and may now turn into a new resistance level. If ETH can break through this range with volume, it is expected to open up further upward space.

On August 1, Ethereum ETFs saw a net outflow of $152 million in a single day, with Fidelity FETH experiencing an outflow of $6.2 million.

Altcoins: Most mainstream altcoins have rebounded and are expected to continue fluctuating upward in the short term. The Fear and Greed Index today reports 64, still within the greed range, indicating that market sentiment is relatively positive but attention should be paid to the risk of overheating in sentiment.

Macro: On August 1, the S&P 500 index fell by 1.60%, closing at 6,238.01 points; the Dow Jones index decreased by 1.23%, closing at 43,588.58 points; the Nasdaq index dropped by 2.24%, closing at 20,650.13 points. As of August 4, the spot price of gold was reported at $3,353 per ounce, with a 24H decline of 0.28%.

Popular Altcoins

ANI Ani the Grok companion (+47.82%, circulating market cap 43.757 million USD)

According to Gate's market data, the current price of Ani token is $0.0436, with an increase of about 47.82% within 24 hours. Ani the Grok companion is a 3D animated AI character launched by xAI for the iOS version of the Grok app on July 14, 2025. Ani is a female virtual character inspired by anime, featuring golden twin tails and a gothic black dress, designed to interact with users through voice.

Previously, Musk retweeted a post regarding updates on certain accounts on the X platform to the Grok humanoid companion image developed by xAI. This included the account handle @a updated to "Ani", @v changed to "Valentine", and @Rudi updated to "Rudi", all related to the Grok virtual companion, further sparking market interest in the AI virtual image sector. As a result, the price of Ani tokens saw a dramatic surge that evening, with a high-volume bullish candlestick appearing within just one hour, directly breaking through a long-standing consolidation range, indicating strong capital involvement signals. Currently, the price is operating around $0.043615, possibly undergoing a technical pullback confirmation after the breakout. If this price level can form effective support, there remains potential for further upward movement.

ENA Ethena (+17.46%, Market Cap 3.918 Billion USD)

According to Gate market data, the current price of ENA token is $0.6246, with an increase of approximately 17.46% within 24 hours. Ethena is a synthetic dollar protocol based on Ethereum, providing a new type of stablecoin called USDe. Unlike traditional dollar-pegged stablecoins, USDe does not rely on fiat currency but is collateralized through staked Ethereum and short futures positions, thus achieving a "synthetic dollar."

With the rebound of Bitcoin and the overall market, the sentiment in the crypto market has significantly improved, driving the overall rebound of the altcoin sector. Among them, the popularity of stablecoins continues to rise, and the TVL of the Ethena protocol has soared, breaking through $9.4 billion to reach a new high, providing strong fundamental support for the price increase of ENA. ENA quickly rebounded from the bottom area, forming a typical "V-shaped reversal" pattern, showing strong buying power at the bottom. Subsequently, the price trend continued to be strong, establishing higher lows and highs, entering a clear upward channel, with a significant bullish trend on the technical front. Currently, ENA is approaching the previous high point of $0.6249, which is not only a key resistance level but also a crucial checkpoint to verify the sustainability of the rebound.

INIT Initia (+13.47%, circulating market cap 61.523 million USD)

According to Gate market data, the current price of the INIT token is $0.4167, with a rise of 13.47% in the last 24 hours. Initia is a multi-chain ecosystem designed to connect full-stack applications and unleash value through interconnected infrastructure and coordinated economic models. The project provides a "paradise"-like environment, offering developers and users the opportunity to build and use.

Previously, the "Unstaking Subsidy Program" launched by the Initia Foundation became the focus of market attention. This program aims to incentivize ecosystem participants to reallocate assets and enhance liquidity. Currently, the application window has been extended by 24 hours, providing convenience for more users to release liquidity, driving funds back into the market, and significantly boosting market sentiment. Under policy stimulus, the price of INIT gradually strengthened after receiving support near 0.36 USDT, forming a continuous series of small upward candlesticks, successfully breaking through the key integer level of 0.40 USDT, and is now approaching the previous high of 0.4175, establishing a strong technical structure of "low-level consolidation + volume rebound" in the short term. Especially on August 4, the price surged with a large candlestick, breaking through the previous consolidation area, indicating that funds are concentrating in the market, and bullish sentiment is obviously dominant. If the policy dividends and market momentum can continue, INIT is expected to challenge higher price ranges, opening up a medium-term upward trend.