Market Overview
Bitcoin defended the $64,000 handle Friday, closing at $64,136 with a 0.5% intraday gain that keeps the 30-day advance at 13.7%. Ether went the other way, slipping 1.1% to $1,844 and failing to reclaim the $1,850 handle it defended earlier in the week. The split between BTC steadiness and ETH softness continued a pattern that has run through most of July.
Solana held onto recent gains at $75.15, off 0.2% on the day but still up 9.2% over seven sessions and 15.6% over 30. XRP finished at $1.09, up 0.2%.
Asset Price Analysis
The tape read as consolidation with rotation underneath. BTC's tight session — hovering around $64,000 through the afternoon — is consistent with a market working off recent gains rather than distributing them. The 30-day print (+13.7%) remains the dominant number; the weekly (-0.6%) is noise inside that trend.
Ether tells the harder story. Down 3.7% on the week and now trading with a $1,844 handle, ETH has failed to hold levels that looked like near-term support just five sessions ago. Resistance sits at $1,850 and again at the $1,900 shelf. The 30-day is still positive at +3.7%, but the pace has cooled sharply relative to BTC and SOL.
Solana's chart is the outlier on the upside. A 15.6% 30-day gain and a 9.2% weekly print put SOL in the strongest relative-strength position of the majors covered here. XRP's move is quieter — up 8.4% over 30 days — but the token continues to hold above $1.00, a level that had been contested through much of the second quarter.
ETF Flows
Issuer reports for Friday's session have not yet settled; the most recent complete tape covers Thursday, July 16. That day's aggregate came in at +$62.0M ↑, according to InflowScan data, with the flow story concentrated in bitcoin products.
On the redemption side, Grayscale's ETHE logged -$5.0M ↓, the only material outflow across the reporting universe. XRP fund coverage was partial — 8 of 9 issuers reported, with XRPK still settling — so the XRP aggregate is not final.
The Thursday picture is a bitcoin-led session with the two largest US spot BTC funds absorbing nearly $65M between them, offset only marginally by continued ETHE bleed. That mix is consistent with the price divergence visible on Friday's tape: BTC bid, ETH offered.
Stablecoin Flows
USDC supply rose $117.2M over 24 hours to $73.3B, according to InflowScan data. USDT added $35.5M to reach $184.1B. Both prints are modest in the context of prior weeks but keep the aggregate trend positive, pointing to dry powder that has yet to be deployed rather than net redemption pressure.
Outlook
The next data point is Friday's settled ETF tape, due in tomorrow's Pre-Market brief. Whether BTC funds continue to absorb capital while ETHE bleeds will determine if the BTC/ETH price divergence has an issuer-flow story behind it or is purely a spot-market phenomenon.
Levels to watch: BTC resistance at the recent range top near $65,000; ETH support at $1,800 and resistance at $1,850. SOL continues to trade well above its 30-day base near $65; a defense of $70 would keep the relative-strength narrative intact.