Bitcoin Pulls Back, But Bulls Stay Strong

Plus: the meme coin season that's heating up Ethereum 👇

Author

Macro Point Daily
August 01, 2025

👋 Welcome Back to Macro Point Daily, The smartest crypto take of the day — macro trends, market moves, daily charts, and a side of memes.

Every day we provide the 5 stories which matter most in crypto, and one just for the degens.

In Today’s Edition

  • 📉 Bitcoin retreats to $115K on profit-taking

  • 📊 ETH meme coins surge amid altcoin rotation

  • 🏦 Institutional demand remains rock solid

  • 🔥 SPX6900 leads satirical token revival

  • 🛠 New L2 solutions launch on Ethereum

  • 🐸 BONK eyes major dog coin flip

Let’s dive in.👇

Today’s Edition

📌 Bitcoin Tests Support at $115K as Market Digests Rally

Bitcoin pulled back to $115,000 today after a blistering run that saw the king of crypto surpass six figures earlier this year.

Technical indicators such as the oversold RSI and flattening MACD suggest that a relief bounce is likely, with key support holding around the $102K-$104K range. The pullback comes as traders take profits following Bitcoin's historic milestone of crossing $100,000, driven largely by unprecedented demand from U.S. spot Bitcoin ETFs. In December 2024, Bitcoin ETFs accumulated 51,500 BTC, setting the stage for this year's explosive start. Despite the near-term volatility, institutional appetite remains robust and many analysts maintain bullish targets for the remainder of 2025.

  • 📈 Technical bounce likely from current oversold levels

  • 🏦 ETF demand continues to provide strong floor

  • 🎯 Multiple analysts still target $200K for 2025

📈 Fed Policy Clarity Supports Risk-On Sentiment

Markets are positioning for continued monetary accommodation as the Federal Reserve maintains its supportive stance heading into August.

Institutional demand and supportive regulatory moves are key factors influencing Bitcoin's outlook for August, with the crypto showing resilience despite broader market concerns. The combination of steady monetary policy and improving regulatory clarity has created a backdrop where institutional players feel comfortable deploying capital into crypto assets. This macro environment continues to underpin the structural bull case for digital assets, even as short-term volatility persists.

  • 🏛️ Fed policy remains crypto-friendly through August

  • 📈 Regulatory clarity boosting institutional confidence

  • 💼 Risk-on sentiment supporting crypto allocations

📉 Meme Coin Market Cap Holds Steady at $76.5B

The meme coin sector is showing remarkable resilience with a total market cap of $76.5 billion, down just 0.5% in the last 24 hours.

The Meme market cap today is $76.5 Billion, a -0.5% change in the last 24 hours, demonstrating the staying power of community-driven tokens. This stability comes as investors rotate between different crypto narratives, with Ethereum-based meme coins particularly benefiting from the broader altcoin momentum. The sector's ability to maintain such a massive valuation speaks to the evolution of meme coins from pure speculation to legitimate community assets with staying power.

  • 💪 Sector resilience despite broader market volatility

  • 🔄 Rotation favoring Ethereum-based meme tokens

  • 🎯 $76.5B market cap shows institutional interest

📈 Ethereum Meme Coin Season Kicks Into High Gear

Ethereum-based meme coins are experiencing a surge as traders rotate capital toward altcoins following Bitcoin's consolidation.

With Ethereum igniting new market activity this July with bullish moves, seasoned crypto investors are propping up projects that benefit from Ethereum. The narrative shift represents a classic crypto cycle pattern where Bitcoin leads, then capital flows into alternative assets seeking higher returns. Ethereum's robust DeFi infrastructure and established meme coin ecosystem make it the natural beneficiary of this rotation, with several projects seeing triple-digit gains.

  • 🔄 Capital rotation from BTC to ETH ecosystem

  • 📈 Triple-digit gains across ETH meme projects

  • 🏗️ DeFi infrastructure supporting meme innovations

🛠️ SPX6900 Expands Cross-Chain Presence

SPX6900 ($SPX) continues to innovate in the satirical meme coin space by expanding its multi-chain operations across Ethereum, Solana, and Base.

Operating on Ethereum, Solana, and Base via Wormhole bridge, it enables seamless cross-chain functionality for its growing "Aeons" community. The project's unique blend of S&P 500 parody with anime culture through mascot Marie Rose has created viral engagement that transcends traditional meme coin boundaries. This technical expansion demonstrates how even meme projects are embracing serious infrastructure to support their communities.

  • 🌉 Multi-chain bridging via Wormhole technology

  • 🎭 Satirical S&P 500 concept with anime aesthetics

  • 🚀 Viral community engagement driving adoption

Degen Domain

🐸 BONK Eyes Historic Flip of Major Dog Coins

BONK is making serious moves toward potentially flipping both Shiba Inu and Dogecoin in market capitalization.

If you've been watching the meme coin scene, you've probably noticed all eyes are on BONK lately. The Solana-based dog coin has been quietly building momentum while its Ethereum counterparts grab headlines, positioning itself for what could be the most significant meme coin flip in crypto history. With its strong community backing and technical improvements, BONK represents the new generation of meme coins that combine viral appeal with actual utility and cross-chain capabilities.

  • 🎯 Targeting SHIB and DOGE market cap flips

  • 📈 Strong momentum building on Solana

  • 🔥 New generation meme coin with utility

💬 Quote of the Day

"The best time to plant a tree was 20 years ago. The second best time is now. The third best time is during a Bitcoin dip."

— Unknown Crypto Twitter Sage

See you tomorrow. Forward to a friend who still thinks ETFs are boring. Not financial advice/ do your own research. Adios.

📉📈🧠🫡
— Macro Point Daily