Michael Saylor’s Strategy sold 1,638 Bitcoin between July 27 and August 2, marking the year’s second-largest Bitcoin sale for the company.

Strategy sold 1,638 Bitcoin (BTC) at an average price of $63,957 for a total of $104.7 million, according to a Monday 8-K filing with the Securities and Exchange Commission. Of the proceeds, $52.4 million was used to fund dividend payments on Strategy’s STRC preferred stock, while another $52.3 million was used to repurchase STRC.

The company now holds 842,138 Bitcoin bought at an aggregate cost of $63.5 billion.

Strategy sold 3,588 Bitcoin for about $216 million on July 6. It also disclosed the sale of 32 Bitcoin in early June, its first reported Bitcoin sale since the 2022 tax-loss transaction.

Strategy bolsters USD reserve to $4 billion, repurchases STRC stock

Strategy also reported selling $290 million in MSTR shares during the same period. About $250 million of the proceeds was used to increase the USD Reserve to $4 billion, $28.9 million to fund additional repurchases of STRC stock and $11.7 million was added to Strategy’s cash balance.

In total, Strategy repurchased $81 million worth of STRC stock and increased its USD runway by 57 days to 2.3 years, announced Strategy founder and chairman Michael Saylor in a Monday X post.

Strategy’s perpetual preferred stock, STRC, traded at $89.4, or 10.6% below its $100 intended par value, during Monday’s pre-market trading session, Yahoo Finance data shows. The company’s MSTR stock also declined 0.9% in pre-market trading on Monday.

STRC stock price, 1-day chart. Source: Yahoo Finance

STRC is one of Strategy’s main mechanisms to fund its Bitcoin accumulation. Trading below par limits Strategy’s ability to raise funds through STRC sales. It may also force the company to further increase its nominal dividend rate to attract buyers and protect STRC’s price.

Related: CLARITY Act failure could send crypto valuations lower: Bernstein

On June 24, CryptoQuant CEO Ki Young Ju said that Strategy should pause Bitcoin purchases and replenish its cash reserve, after the company’s dividend coverage fell to 14 months from seven years.

“They should pause Bitcoin purchases, rebuild cash reserves, and adopt a systematic framework for purchase timing,” wrote Ju in a June 24 X post.

In its June 29 8-K filing, Strategy unveiled a capital framework allowing Bitcoin sales to fund dividends, increased the annual dividend rate on its STRC preferred stock to 12%, and disclosed that its US dollar reserve had grown to $2.55 billion.  

Magazine: Bitcoin adoption metrics say one thing, price action says another

Ethereum price fell 2% to around $1,847 on Aug. 3 after another rejection near key moving averages left the $1,800 support zone exposed.

ETH slides after failing to reclaim $1,900

According to data from crypto.news, Ethereum (ETH) price traded at $1,847 at the time of writing, down 2.04% over the previous 24 hours. The token moved between an intraday high of $1,886 and a low of $1,829 on Binance.

The decline extended ETH’s retreat from its July 27 high near $1,975. Buyers have now failed several times to sustain a move above the resistance zone between $1,950 and $1,975.

ETH briefly rebounded after touching $1,828, but the recovery stalled around $1,850. That left the token near the lower end of its recent trading range and inside the closely watched $1,800–$1,850 support area.

The broader daily structure also remains defensive. Ethereum trades below its 50-day simple moving average at $1,889, its 100-day SMA at $1,927, and its 200-day SMA at $2,089.

Weak liquidity deepens Ethereum’s sell-off

The immediate pressure came from Ethereum’s failure to reclaim the moving-average resistance between $1,889 and $1,927. Sellers entered after the latest attempt faded, pushing ETH below $1,850 and toward its Aug. 3 low.

The 4-hour chart shows the price rolling over after forming a broad curved top below $1,975. Lower highs since late July suggest that buying demand has weakened, although ETH must still break below $1,800 to confirm a larger bearish continuation.

Momentum indicators support the cautious outlook. The 4-hour Moving Average Convergence Divergence remains below zero, with the MACD line near -10.46 and the signal line at about -9.92.

Chaikin Money Flow stands at -0.14. The negative reading indicates that selling volume has outweighed buying volume over the indicator’s measurement period.

Ethereum also faces broader liquidity pressure. A sharp weekly decline in Binance stablecoin netflows suggests less immediately available capital is entering the exchange, potentially reducing the buy-side liquidity available during market declines. However, exchange flows can change quickly and do not determine price direction alone.

Longer-term concerns include weaker institutional demand for Ethereum products relative to Bitcoin and lower mainnet fee revenue as activity shifts toward Layer-2 networks. These factors have weakened Ethereum’s investment narrative, but the current move remains primarily tied to the chart rejection and wider risk-off positioning.

Losing $1,800 could expose ETH to $1,700

The first support range sits between $1,828 and $1,800. ETH has already attracted buyers near the upper part of that zone, but repeated tests could weaken the remaining demand.

Ethereum’s lower daily moving-average ribbon stands near $1,785. A daily close below that level would strengthen the bearish setup and expose $1,700, followed by the June accumulation region around $1,550–$1,600.

CoinGlass’ 24-hour liquidation heatmap shows nearby leveraged-position clusters around $1,840, $1,820 and $1,810. A move through those levels could liquidate leveraged long positions and accelerate short-term volatility.

The map also shows overhead liquidity around $1,860–$1,875. If ETH rebounds above that range, short liquidations could help drive the price toward $1,890 and $1,920.

On the upside, Ethereum must first reclaim its 50-day SMA at $1,889. A daily close above the 100-day SMA at $1,927 would improve the setup, while a breakout above $1,975 would invalidate the current sequence of lower highs and place $2,000 back in focus.

The daily Relative Strength Index stands at 48.81, below its signal average of 56.44. The reading points to weakening momentum but remains well above oversold territory, leaving room for further selling if $1,800 fails.

Analyst sees Ethereum at a critical support zone

Crypto analyst Ted Pillows described the current support range as decisive for Ethereum’s next move.

“ETH is currently in the $1,800–$1,850 support level,” Pillows said. “This is very crucial for Ethereum to hold, or else it could drop towards $1,700.”

His chart presents two potential paths. Holding the current zone could allow ETH to recover toward $1,950 and then $2,050, while a confirmed breakdown could send the price toward $1,700.

The forecast aligns with the support levels visible on the daily chart, but the $1,700 target would require ETH to lose both the psychological $1,800 level and support near $1,785.

Fed outlook adds pressure on US crypto investors

Changing expectations for US monetary policy remain an additional risk for Ethereum and other speculative assets. Higher Treasury yields and a stronger dollar can reduce investor demand for crypto by increasing the relative appeal of dollar-denominated assets.

Slower-than-expected Federal Reserve rate cuts would keep financial conditions tighter and could limit institutional risk-taking. Ethereum may therefore remain sensitive to upcoming US inflation, employment and Fed policy signals.

For US investors, the near-term setup depends on whether ETH can defend $1,800 as macro liquidity remains constrained. A recovery above $1,927 would improve the technical outlook, but a daily close below $1,785 would shift attention toward $1,700.

Solana price slipped below $73 on Aug. 3 as weak spot demand and sustained capital outflows raised the risk of a drop toward $70.

Solana price extends its decline below $73

According to data from crypto.news, Solana (SOL) price traded at $72.55 on Aug. 3, down 1.47% on the daily chart after moving between an intraday high of $73.67 and a low of $71.98.

The decline extended a broader pullback from the July high near $82.50. SOL has formed a sequence of lower highs since that peak, with sellers defending rebounds around $78 and then $76.

Price has now fallen below the daily Bollinger Band midpoint at $75.09. This level previously acted as support but has turned into the first major resistance area.

SOL briefly moved below the lower Bollinger Band at $71.49 before recovering above $72. That reaction shows buyers remain active around $71.50–$72, but the limited rebound suggests they have not regained control.

The Awesome Oscillator stood at -3.56, with its red bars expanding below zero. That reading points to strengthening bearish momentum on the daily timeframe rather than an immediate trend reversal.

Flat spot demand weakens SOL’s recovery

Solana attempted to rebound after falling toward $71 on Aug. 2, but spot demand failed to recover alongside price.

Analyst Ted Pillows described the divergence as a sign of weakness.

“$SOL is bouncing back. But spot demand is flat. Sign of weakness.”

The 4-hour Chaikin Money Flow reading supports that view. CMF fell to -0.17, meaning more capital was leaving SOL than entering it during the measured period.

Declining spot participation can leave a rebound dependent on leveraged derivatives positions. Such moves are more vulnerable to reversals because they lack the direct buying pressure needed to absorb new selling.

The weakness also comes as activity tied to speculative Solana tokens cools from previous peaks. Lower decentralized exchange activity and weaker fee generation would reduce one source of demand for SOL, which traders need to pay network fees and interact with on-chain applications.

Four-hour indicators keep sellers in control

Solana remains below every major moving average displayed on the 4-hour chart. The 20-period SMA stands at $72.96, followed by the 50-period SMA at $73.88 and the 100-period SMA at $75.06.

The 200-period SMA, currently near $76.79, represents the strongest overhead technical barrier. SOL would need to reclaim that level to weaken the current sequence of lower highs.

The moving averages are also bearishly ordered, with each shorter-term average sitting below the longer-term measures. That structure suggests the decline is established across several trading horizons.

A move above $72.96 could open a retest of $73.88. The $73.88–$75.06 range is particularly important because it combines two moving averages with liquidity visible on the three-day liquidation heatmap.

Failure to reclaim that area would leave SOL exposed to another test of $71.50. A daily close below the lower Bollinger Band could bring $70 into focus, followed by the June support region near $67.50.

Liquidation clusters could increase volatility

CoinGlass’ three-day liquidation heatmap shows the largest nearby concentration of leveraged positions above the current price, particularly around $73.50–$74.

Additional liquidity appears near $74.50 and $76, creating potential targets if SOL begins a short-covering rebound. A move into these clusters could force bearish traders to close positions, accelerating the recovery.

However, liquidity also appears below the market around $71.50 and $70. These clusters could attract price if support near $72 fails.

This leaves SOL between competing liquidity zones. The closer upside concentration could produce a short-term bounce, but the weak CMF reading and bearish moving-average structure suggest any recovery must be confirmed by stronger spot buying.

Fee-burn vote offers Solana a potential catalyst

SolanaFloor reported that proposals addressing Solana’s fee burn and token disinflation were set to enter an initial vote on Aug. 3.

According to the report, the measures would double annual disinflation to 30%, remove about $1.36 billion in projected token issuance over six years and increase daily burns from roughly 650 SOL to 9,000 SOL.

Those figures remain projected outcomes rather than confirmed changes. The proposals must progress through governance before they can alter SOL’s supply dynamics.

For US investors, the immediate backdrop also remains tied to broader risk appetite. High-beta tokens such as SOL can face added pressure when elevated Treasury yields make lower-risk dollar assets more attractive. A shift in Federal Reserve expectations or US yields could therefore affect whether buyers return at the current support zone.

The short-term outlook remains bearish below $75.06. Reclaiming that level would improve the setup and expose $76.79, while a confirmed break below $71.49 would increase the risk of a move toward $70.

Strategy (MSTR) raised $104.73 million last week with the sale of 1,638 bitcoin, and raised an additional $290.6 million via the sale of common stock.

Alongside, the company repurchased 912,143 shares of its high-yielding preferred stock STRC for $81.2 million, according to an SEC filing Monday morning.

The bitcoin sales reduced Strategy’s holdings to 842,138 BTC, acquired for $63.51 billion at an average price of $75,419. The company lifted its USD reserve by $250 million.

The company announced over the weekend that it would maintain STRC’s annual dividend rate at 12%, saying it does not intend to recommend a reduction until the shares trade consistently near their stated $100 value.