Bitcoin and ether fall as broader crypto index caps best month in a year
Bitcoin fell 1.31% to $63,870 and ether dropped 1.40% to $1,890 on July 31, decoupling from surging global equity markets. Despite the month-end decline, the CoinDesk 20 Index gained 8.7% since June, marking its best monthly performance in a year. Meanwhile, altcoins showed mixed results, with UNI surging 9.30% to $4.41 following layer-2 momentum. Leveraged traders remain cautious, as derivatives positioning leans bearish while $10 billion in options recently expired.
Key takeaways
- 1Bitcoin fell 1.31% to $63,870 while ether slid 1.40% to $1,890 at the end of July.
- 2The CoinDesk 20 Index gained 8.7% in July, achieving its strongest monthly performance in a year.
- 3Uniswap jumped 9.30% to $4.41 as futures open interest reached 75.80 million tokens.
Coins in this story
Why it matters
Divergence from equities and bearish derivatives positioning suggest traders anticipate further downside for major cryptocurrencies. Investors should monitor whether key support levels like $60,000 hold alongside implied volatility trends heading into August.
Discussion
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