Crypto Market Today, July 31: Bitcoin Slides Below $63,000 and Coinbase Tumbles 10%
Coinbase’s earnings miss further fueled risk-off sentiment in crypto markets as traders reassessed the likelihood of crypto legislation progression today, July 31, 2026.
Overview
As of 4.30 p.m ET on July 31, Bitcoin (CRYPTO:BTC) fell 2.9% to $62,929.27, Ethereum (CRYPTO:ETH) fell 2.8% to $1,866.57, and Solana (CRYPTO:SOL) fell 2.0% to $73.04. All three major coins were broadly lower on easing risk appetite.
Bitcoin slipped below $63,000 today as a mix of factors weighed on the crypto market. These included news that three Federal Reserve board members voted to raise interest rates at Wednesday’s meeting, disappointing results from Coinbase Global (NASDAQ:COIN), and doubts that lawmakers would pass much-anticipated crypto legislation — the Clarity Act — this summer.
Details
Spot Bitcoin ETFs saw positive flows yesterday, with $233 million in inflows despite risk-off sentiment pressuring prices. The iShares Bitcoin Trust ETF remains dominant, increasing its assets under management by $183 million yesterday. Indeed, Banco Santander (NYSE:SAN) disclosed yesterday that it held $4.31 million in shares in the popular Bitcoin ETF as well as around $3.54 million in the iShares Ethereum Trust ETF (NASDAQ:ETHA).
Source
Originally published at www.fool.com.