The crypto market took a hit over the past day, with the total market cap dropping by 3.56% to $3.68 trillion. Bitcoin (BTC) and MemeCore (M) were the main names leading the pullback. Despite the dip, trading activity didn’t slow down; volume nearly doubled, showing that traders are still very much in the game.
So, what’s behind the move? Data from TradingView, Lookonchain, and The Crypto Express points to a few key events driving the action.
Bitcoin price is down 4.33% on the day, sitting at around $117,043. The drop seems to have been triggered by two big transfers from an old Satoshi-era wallet. On July 14, 9,000 BTC (worth about $1.06 billion) was sent to Galaxy Digital, and the very next day, another 7,843 BTC ($923 million) landed on Binance and Bybit. According to Lookonchain, this kind of movement tends to add a lot of sell pressure fast.
💥BREAKING:
— Crypto Rover (@rovercrc) July 15, 2025
THE SATOSHI-ERA WHALE, WHO HOLDS 80,000 $BTC, HAS JUST SOLD 9,000 $BTC WORTH $1.06B.
WHAT A LEGEND! pic.twitter.com/cCxsXJM5XJ
That pressure cracked the $118,000 support level, which triggered a wave of liquidations, $406 million worth of long positions wiped out in just four hours. The sell-off intensified quickly, but it didn’t scare traders off completely. BTC trading volume actually surged more than 50%, hinting that some might be preparing for a bounce.
🚨 JUST IN: A wallet holding 20,000 $BTC since 2010 just moved $2.4B after 14 years, bought for $15,400. pic.twitter.com/ZH54AGZfyM
— Cointelegraph (@Cointelegraph) July 14, 2025
Over on X, The Crypto Express pointed out that Bitcoin price had broken through a key resistance zone and was now pulling back to fill the CME gap between $115,635 and $114,380. Chart watchers are keeping an eye on this range. Technicals show the overall uptrend is still holding strong. If buyers step back in around the $114K–$115K zone, we could see a healthy bounce and maybe another run to the upside.
MemeCore Price Drops 35% as Momentum Fades
Altcoin MemeCore (M) recorded a sharp 35% decline, trading at $0.4018. Trading volume dropped by 25%, signaling reduced market interest. The correction follows a steep rally, where MemeCore had surged over 1,100% in the week ending July 11, peaking at $1.
Profit-taking is the leading factor, with traders exiting positions after exponential gains. Blockchain data shows 1.39 million TRUMP tokens ($13 million) were moved to a centralized exchange on July 13. Historically, such deposits have aligned with declines in meme-based assets.
Analysts have also observed a rotation from memecoins to utility tokens. On July 14, over $6 million in net capital outflows were reported from memecoins, with flows moving toward projects like Solana and Ethereum. The shift aligns with the dip in Bitcoin dominance from 63.76% to 63.49%, confirming capital reallocation across the market.
Market Cap Pulls Back but Technical Trend Remains Bullish
The total crypto market cap dropped from a recent peak of $3.86 trillion, but remains in a clear uptrend. The decline is consolidating around $3.63 trillion. The 4-hour chart structure remains bullish with a breakout above a descending trendline suggesting the pullback may be temporary.
A key support zone lies between $3.41 trillion and $3.46 trillion. This area was the base of the previous breakout and could attract buyers if the correction continues. Resistance is expected near the prior high around $3.76 trillion.
While short-term volatility persists, chart structure across BTC, MemeCore, and the overall market shows that the broader bullish trend remains intact unless deeper support zones are breached.
Moreover, Bitcoin’s reaction at the $114,000 CME gap zone will likely determine the next leg of the market’s direction. MemeCore is testing a support range around $0.39–$0.40, with a potential for further downside if this level fails. Meanwhile, broader market sentiment remains neutral-to-positive as volume remains elevated and traders await confirmation of a bottom.
Read Also: Bittensor (TAO) Price Breaks Past $400: Is a Run Toward $1K Now in Play?
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