by Coinstrooper Crypto Articles
Quick Take
  • The crypto market slipped on Friday, July 31, with the total value of all coins easing to $2.18 trillion, down about 0.58% over 24 hours.
  • Money rotated back into stocks after the S&P 500 rebounded, while Strategy’s plan to keep selling Bitcoin added a fresh weight.
  • The pullback stayed mild, though, as Bitcoin held flat.
  • The S&P 500 rose 1.66% on Thursday, recovering the ground lost the day before.

What Happened

Money rotated back into stocks after the S&P 500 rebounded, while Strategy’s plan to keep selling Bitcoin added a fresh weight. The pullback stayed mild, though, as Bitcoin held flat.

As a result, TOTAL failed to hold $2.19 trillion, a level it lost on July 27 and has not cleanly reclaimed.

A drop below $2.15 trillion would open $2.11 trillion and $2.07 trillion, while a reclaim of $2.19 trillion keeps a run at $2.26 trillion in play.

Market Context

The crypto market slipped on Friday, July 31, with the total value of all coins easing to $2.18 trillion, down about 0.58% over 24 hours.

1. Money Rotates Into a Rebounding Stock Market

The S&P 500 rose 1.66% on Thursday, recovering the ground lost the day before. That bounce possibly pulled some cash out of crypto and back into equities, a rotation that tends to sharpen as month-end drains liquidity.

The second drag is structural. On its Q2 results, Strategy said it will keep selling Bitcoin when advantageous and will no longer route all new capital into BTC purchases.

On the chart, M has traced a falling channel since July 3 on shrinking sell volume, which had raised hopes of an upside break.

However, sell volume spiked on July 30, its first real rise since early July, which hints sellers are stepping back in. A push above $1.02 and $1.13 is needed to show strength, while $1.21 confirms a breakout toward $1.57.

Volume Story: Sell volume spiked on July 30.

Why It Matters

2. Strategy Signals More Bitcoin Selling Ahead

Meanwhile, Bitcoin (BTC) has held flat near $64,300, so the impact reads as latent rather than immediate. Still, the shift removes a steady buyer and, with the stock rotation, leaves crypto exposed as August begins.

The Risk: A lost buyer weighs on August sentiment.

Details

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The Trigger: S&P 500 rebounded 1.66% as July’s end nears.

Key Level: TOTAL must reclaim $2.19 trillion to steady.

Downside Line: A break of $2.15 trillion opens $2.11 trillion.

The Shift: Strategy ends its all-in Bitcoin buying model.

The Tell: Bitcoin holds flat near $64,300 for now.

Coin Spotlight: MemeCore (M)

MemeCore (M) is the day’s big loser, down about 10% over 24 hours at $0.99, yet still up roughly 24% over the month, a sign July stayed decent for meme-themed tokens. It has cooled recently, sliding about 13% on the week.

The $0.85 channel floor separates a recovery attempt from a deeper slide toward $0.53.

The Move: M down about 10% today, up 24% monthly.

Break Line: Above $1.21 targets $1.57; below $0.85 weakens.