Gate today market analysis: BTC is in a narrow range of fluctuations with support, CFX is experiencing a big pump of 20% leading the alts.

Bitcoin (BTC) is fluctuating narrowly in the range of $118,000 - $120,000, touching the middle band of the Bollinger Bands on the daily chart and receiving support. BTC market share has slightly rebounded to 60.8%.

(Source: Gate)

Ethereum (ETH) has pulled back to around $3,750, down nearly $200 from yesterday's high. However, ETH remains in an upward trend overall, with more than $7 billion in inflows into ETH ETFs over the past 8 weeks, indicating that institutions are continuously accumulating ETH.

Altcoins: Major altcoins have slightly risen, with VINE achieving an intraday increase of over 200%, and Conflux (CFX) once again surging by 20%; additionally, the Fear and Greed Index shows that the current market is in a state of greed, maintaining an optimistic sentiment, and short-term structural rotation may continue.

Macro: On July 28, the three major U.S. stock indexes collectively closed higher, with mixed performance among them. The S&P 500 index rose by 0.02%, closing at 6,389.77 points; the Dow Jones index fell by 0.14%, closing at 44,837.56 points; the Nasdaq index rose by 0.33%, closing at 21,178.58 points. As of July 29, 12:00 AM ( UTC+8, the spot price of gold was reported at $3,317 per ounce, down 0.1% in the last 24 hours.