Market Overview
The majors sold off in unison Friday. Bitcoin closed at $62,949, down -2.8% ↓ on the day and -0.6% ↓ on the week, though it retained a +13.7% ↑ 30-day gain. Ether logged the sharpest decline among large-caps, sliding -3.0% ↓ to $1,861.75 and failing to defend the $1,900 handle. Solana and XRP fell less than the top two, with SOL still up +9.2% ↑ on the week despite Friday's -2.1% ↓ retreat.
The pattern — heaviest selling in the two names with the strongest recent flow-driven bids — is consistent with month-end profit-taking rather than a broader risk-off pivot.
Asset Price Analysis
Bitcoin's Friday close at $62,949 puts it back below the $63,000 level that had acted as near-term support through the second half of July. The 24-hour drop erased Wednesday and Thursday's gains, though the 30-day picture remains firmly positive at +13.7% ↑. Resistance sits at the prior weekly high near $65,000; support at $62,000 is the level to watch for a defended monthly close.
Ether was the standout underperformer, closing at $1,861.75 after breaking below $1,900 intraday. The -3.7% ↓ weekly drop cuts the 30-day gain to just +3.7% ↑, materially trailing bitcoin's monthly performance. That relative weakness is showing up in the flow tape too (see below).
Solana closed at $72.94, still holding a +15.6% ↑ 30-day return — the strongest among the four majors — even after Friday's -2.1% ↓ pullback. XRP at $1.06 held up best on the session at -2.0% ↓, extending its weekly gain to +1.7% ↑.
ETF Flows
ETF flow figures published for Thursday, July 30 — the most recent settled session, with Friday's data still settling — showed +$207M ↑ in net inflows across spot crypto products, according to InflowScan data. Coverage was partial: 10 of 12 BTC funds and 6 of 9 ETH funds had reported, with IBIT, ARKB, ETHA, ETHB and TETH among issuers still settling.
- IBIT (BlackRock): +$181.1M ↑
- ETHA (BlackRock): +$16.1M ↑
- FBTC (Fidelity): +$15.3M ↑
The Thursday tape shows the same BTC-over-ETH tilt that Friday's spot action confirmed. BlackRock's IBIT absorbed the overwhelming share of Thursday's bitcoin bid, while ether products traded in both directions — ETHA in, FETH out — pointing to issuer-level rotation rather than a unified ETH view. Friday's settled flows publish Monday morning; that report will be the more useful read on whether today's price drop drew redemptions or was bought.
Stablecoin Flows
Stablecoin supply contracted on the session, according to InflowScan data. USDT fell $553M to $183.3B and USDC fell $267M to $71.9B, a combined $820M reduction in dollar-pegged supply. The direction is consistent with a modest deleveraging pulse into the weekend rather than fresh dry powder building on the sidelines.
Outlook
Monday's pre-market brief will carry Friday's settled ETF flow report — the key data point for reading whether the sell-off drew institutional redemptions or was absorbed. Levels to watch: BTC support at $62,000 and resistance at $65,000; ETH's ability to reclaim $1,900 as a first-order test of whether Friday's break was a shakeout or a trend change. SOL's month-end close above $72 keeps its relative strength narrative intact — a break below would suggest the majors are pricing in the same headwind.