Bitcoin Slides Below $63,000 and Coinbase Tumbles 10%

The Motley Fool··Read original
3▲0 ▼4Impact / 5
Summary · why it matters

Bitcoin fell below $63,000 and Coinbase shares dropped over 10% on July 31 as risk appetite eased. Bitcoin declined 2.9% to $62,929.27, Ethereum fell 2.8% to $1,866.57, and Solana slipped 2.0% to $73.04. The sell-off followed news that three Federal Reserve board members voted to raise interest rates, disappointing earnings from Coinbase, and fading hopes for the Clarity Act crypto legislation this summer. Spot Bitcoin ETFs saw $233 million in inflows, with the iShares Bitcoin Trust ETF adding $183 million in assets, while Banco Santander disclosed holdings of $4.31 million in that ETF and $3.54 million in the iShares Ethereum Trust ETF. Despite the pullback, Bitcoin gained 4.3% in July, outperforming the Nasdaq Composite's 3.2% decline.

Impact on assets 6

Financials▲ · 2 stocks
Digital Finance & Tokenization▼ · 1 stocks
Others▼ · 3 stocks
Bitcoin
BTC-USD
▼ NegativeMonetaryrelevance

Fed rate hike vote and fading legislation hopes pressure Bitcoin

Ethereum
ETH-USD
▼ NegativeMonetaryrelevance

Fed rate hike vote and risk-off sentiment drag Ethereum

Solana
SOL-USD
▼ NegativeMonetaryrelevance

Fed rate hike vote and risk-off sentiment drag Solana

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