Strategy (formerly MicroStrategy) announced it will continue selling Bitcoin when advantageous and will no longer allocate all new capital to BTC purchases, marking a shift from its long-standing accumulation strategy. The news came as the total crypto market cap slipped to $2.18 trillion on July 31, down 0.58% in 24 hours, with Bitcoin holding flat near $64,300.
Strategy's new approach
The company, once the most aggressive corporate Bitcoin buyer, is dialing back. Instead of plowing every dollar of new capital into BTC, Strategy will now sell into strength when it makes sense. The move signals a more tactical posture after years of relentless accumulation. It's a notable pivot for a firm that helped define the corporate Bitcoin playbook.
Macro rotation weighs
The S&P 500 rebounded 1.66% on Thursday, pulling money out of crypto and back into equities. That rotation added pressure on an already skittish market. Bitcoin barely budged, but smaller coins felt the pinch. The macro backdrop isn't helping — traders are watching stocks more than ever.
MemeCore leads decliners
MemeCore (M) was the day's biggest loser, dropping about 10% to $0.99. Even with that slide, the token is still up roughly 24% over the month. The pullback looks like profit-taking after a strong run, but it's a reminder how quickly momentum can reverse in this corner of the market.
Key levels to watch
For the broader market, the $2.19 trillion mark is the immediate hurdle. If TOTAL can reclaim that level, stability might return. A break below $2.15 trillion, though, opens the door to $2.11 trillion and then $2.07 trillion. That's the line in the sand for bulls right now.
